Wearable Technology Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)
Wearable Technology is Transforming With the Integration of MEMS Sensors Into Tech Wearables, Driven by Smartphone Influence On GPS or IMU. Companies Like Apple are Introducing Innovative Features in Smart Wearables, Boosting the Wearable Tech Gear Industry. Despite the Rising Popularity of These Wearable Devices Among Various Users, Data Security Concerns May Hinder Growth. The Market for Wearable Electronics, Featuring Key Players Like Samsung, Apple, and Xiaomi, is Segmented Into North America, Europe, Asia Pacific, and Other Regions, With Startups Escalating Competition.
- Wearable Technology Market Size
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| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 186.48 Billion |
| Market Size (2029) | USD 493.26 Billion |
| CAGR (2024 - 2029) | 17.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
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Wearable Technology Market Analysis
The Wearable Technology Market size is estimated at USD 186.48 billion in 2024, and is expected to reach USD 493.26 billion by 2029, growing at a CAGR of 17.60% during the forecast period (2024-2029).
- The evolution of wearable technology is largely attributed to the rise of MEMS sensors. Wearable devices now integrate these sensors, particularly in response to the widespread use of smartphones, which heavily rely on GPS and IMU (comprising an accelerometer, gyroscope, and magnetometer). This integration has significantly enhanced the capabilities of fitness-tracking wearables, enabling them to closely monitor various body activities.
- Technological advancements in consumerism have led to the rise of wearable technology that monitors health, tracks movements, and provides social media notifications. Devices such as smartwatches, fitness trackers, and VR/AR headsets are becoming increasingly prevalent among the population. Consequently, the popularity of wearables is expected to continue growing, prompting companies to find innovative ways to integrate them into daily life.
- Smart clothing is experiencing a significant increase in demand, particularly within the wearable technology market, and is set to transform the health and fitness industry. Known as e-textiles or smart fabrics, these garments incorporate advanced sensors, hardware, and textiles, providing personalized insights and monitoring capabilities that surpass traditional clothing. With their ability to track the wearer's activity, sleep patterns, and health indicators such as heart rate, blood pressure, and body temperature, the market is expected to see substantial growth over the forecast period.
- However, the rapid adoption of wearable technology has highlighted significant ethical and privacy concerns, particularly in managing and protecting personal health data, which challenges the market’s growth. For example, a recent incident involved an unsecured database containing over 61 million records related to fitness trackers and wearables, exposing data of Apple and Fitbit users online. WebsitePlanet and security researchers discovered this non-password-protected database, which contained tens of millions of records from fitness tracking and wearable devices and apps. The unsecured database belonged to GetHealth, a company that provides a unified solution to access health and wellness data from hundreds of wearables, medical devices, and apps.
- The wearable technology market experienced a mixed impact from the COVID-19 pandemic. On the positive side, demand for health-focused wearables, such as fitness trackers and smartwatches, increased as consumers sought to monitor vital signs and sleep patterns, reflecting a heightened focus on personal well-being. Wearables also played a significant role in remote patient monitoring, reducing the strain on hospitals. However, lockdowns disrupted production and supply chains, affecting product availability. The economic slowdown also led some consumers to prioritize essential purchases over wearables.
- In the post-pandemic era, the market has rebounded due to increased health awareness and the continued growth of remote patient monitoring. Advancements in wearables with features like blood pressure monitoring and fall detection are expected to see high demand, solidifying wearables as valuable tools in preventive and proactive healthcare.
- Wearable Technology Market Trends
Smartwatches Expected to Drive Market Growth
- The increasing interest in smartwatches among the younger demographic, driven by their numerous benefits, is a key factor propelling the market’s growth. With a growing emphasis on staying connected, the demand for smartwatches has surged. Today's smartwatches enable users to seamlessly receive notifications, calls, and messages on their wrists, eliminating the need to retrieve their smartphones from pockets or bags, providing everything at their fingertips.
- For instance, according to Huawei European Health Survey 2023, 45% of respondents in Spain reported they owned a smartwatch, while 68% expressed interest in buying a new smartwatch for health purposes as of 2023. Meanwhile, almost 80% of respondents in Turkey were interested in purchasing a new smartwatch with health features.
- Smartwatch manufacturers are strategically targeting specific consumer segments, such as athletes, sports enthusiasts, and adventure seekers, through tailored product innovations. By focusing on these niches, they aim to drive sales growth. These smartwatches not only provide fitness metrics but also promote a healthier lifestyle by offering insights into vital health parameters.
- The integration of augmented reality (AR) into smartwatches is poised to be a significant growth driver in the demand for smartwatches. AR is set to elevate smartwatches by enabling users to overlay digital information onto the real world through their wrist-worn devices. This trend could have applications in navigation, gaming, and even education, revolutionizing how users interact with their surroundings.
- Furthermore, the vendors operating in the market studied are introducing smartwatches with new technology integration. For instance, in July 2024, Realme launched its Realme Watch S2, enabled with AI assistant powered by ChatGPT, which distinguishes this watch from other smartwatches by delivering intelligent answers and assistance directly on the wrist, offering a seamless and smart user experience. Such innovations are further driving the adoption of smartwatches among younger and tech-savvy populations globally.
North America Expected to Hold Major Market Share
- Consumers in the region are recognized for their early adoption of new technologies. Their strong interest in gadgets and wearables, which either enhance their lifestyles or provide health benefits, has driven increased demand, thereby fostering further advancements in the wearable tech sector. The region benefits from a higher average disposable income. This financial flexibility enables consumers to spend more on discretionary items, particularly wearables, thereby expanding the market's growth potential.
- The region's population is increasingly prioritizing health and well-being. Wearables, which monitor fitness metrics, sleep patterns, and health vitals, are addressing this demand. This focus on preventive healthcare is driving a strong market for innovative wearable solutions. Notably, findings from the Health Information National Trends Survey, conducted by the National Heart, Lung, and Blood Institute (NHLBI), indicate that nearly a third of American adults use wearables, such as smartwatches, to track their health. Among wearable device users, over 80% of these users are willing to share their device data with their doctors for enhanced health monitoring. However, less than one in four adults with or at risk for cardiovascular disease uses a wearable device.
- Increasing investments by numerous sports associations to eliminate the possibility of any preventable injuries to highly paid professional athletes are expected to fuel the growth of the market in the region. The Golden State Warriors, for instance, are collaborating with smart clothing company Athos to use these products for injury prevention and player performance. This investment represents only a fraction of the involvement of the US athletics sector in the smart clothing industry landscape.
- Apart from the United States, the demand for wearables is also increasing in Canada. The country is expected to provide sufficient expenditures and funding for its military programs (including clothing). Bell has various patents in the United States and Canada that lay out a comprehensive vision for how its wearable technology could be used both by individuals looking to monitor ill loved ones and by institutions wanting to track large populations.
- Moreover, in October 2023, Qualcomm Technologies Inc. and Google established a strategic partnership, introducing a RISC-V-based wearables solution designed for Wear OS by Google. This advanced framework aims to drive the integration of custom, power-efficient, and high-performance CPUs within the ecosystem. Both companies are dedicated to enhancing the Snapdragon Wear platforms, reinforcing Qualcomm's position as the leading provider of smartwatch silicon for the Wear OS ecosystem. Such strategic initiatives are further augmenting the market’s growth in the region.
Wearable Technology Industry Overview
The wearable technology market is moderately competitive, with several players holding significant shares and the presence of numerous smaller and niche players operating in the market. These players are witnessing product and technology innovation, partnerships, mergers, and acquisitions to maintain a competitive edge in the market.
- July 2024: At a product launch event in Paris, Samsung introduced its AI-powered Galaxy Ring, marking the company's entry into the smart ring market. This strategic move not only expands Samsung's wearable technology portfolio but also strengthens its position in the health monitoring sector. These new wearables incorporate Samsung's most advanced technologies, providing users with proactive healthcare solutions and reinforcing its market leadership.
- June 2024: Wearable Devices Ltd, a technology company specializing in AI-powered touchless sensing wearables, showcased its latest capabilities in the integration of extended reality (XR) in collaboration with Qualcomm Technologies at the Augmented World Expo (AWE) 2024. This partnership underscores the synergy between Wearable Devices' innovative wearable solutions and Qualcomm's state-of-the-art XR technology, which is poised to transform immersive experiences for both consumers and businesses.
- May 2024: ByteDance Ltd acquired Oladance, a Chinese earphone manufacturer, for approximately USD 50 million. This acquisition highlights ByteDance's strategic shift toward wearable technology, potentially expanding its technological footprint beyond smartphones. TikTok, a subsidiary of ByteDance, has finalized the transaction and deployed its personnel to collaborate with Oladance in Shenzhen.
Wearable Technology Market Leaders
Samsung Group
Xiaomi Inc.
Fitbit Inc.
Sony Corporation
*Disclaimer: Major Players sorted in no particular order
Wearable Technology Market News
- May 2024: Wearable Devices Ltd, a leading company in the touchless sensing wearables market powered by AI, announced that the China National Intellectual Property Administration has granted its patent application (No. CN107589782) for the "Method and Apparatus for a Gesture Controlled Interface for Wearable Devices."
- February 2024: Following the successful launch of its Galaxy S24 series featuring Galaxy AI, Samsung is expanding its AI technology to wearables. This strategic initiative aims to revolutionize digital health experiences and underscores Samsung’s commitment to integrating AI across its product lineup. The company has announced plans to incorporate Galaxy AI features into future wearable devices. This move seeks to leverage AI to enhance health monitoring capabilities, promising a new era of intelligent health experiences for users.
Wearable Technology Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Impact of COVID-19 on Wearable Technology Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Customer Preference for Svelte and Small Devices for use in Fitness and Healthcare
5.1.2 Rising Growth Prospects for Wearable Devices' Next-Generation Displays
5.1.3 Rising use of Head-Mounted Displays
5.2 Market Restraints
5.2.1 Short Battery Life
6. MARKET SEGMENTATION
6.1 By Type of Device
6.1.1 Smart Watches
6.1.2 Head-mounted Displays
6.1.3 Wristbands
6.1.4 Ear-wearables
6.1.5 Other Device Types (Smart Clothing)
6.2 By Geography
6.2.1 North America
6.2.1.1 United States
6.2.1.2 Canada
6.2.2 Europe
6.2.2.1 United Kingdom
6.2.2.2 Germany
6.2.2.3 France
6.2.2.4 Rest of Europe
6.2.3 Asia-Pacific
6.2.3.1 China
6.2.3.2 Japan
6.2.3.3 South Korea
6.2.3.4 India
6.2.3.5 Rest of Asia-Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Samsung Group
7.1.2 Oculus VR LLC (Facebook)
7.1.3 Alphabet Inc.
7.1.4 Sony Corporation
7.1.5 HTC Corporation
7.1.6 Fitbit Inc.
7.1.7 Xiaomi Inc.
7.1.8 Apple Inc.
7.1.9 Microsoft Corporation
7.1.10 DAQRI Company
7.1.11 AIQ Smart Clothing Inc.
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Wearable Technology Industry Segmentation
Wearable technology is an emerging trend that integrates electronics into daily activities, fits into changing lifestyles, and can be worn on any body part. The main thing that makes wearable technology possible is the ability to connect to the internet and exchange data between a network and a device.
The wearable technology market is segmented by type of device (smartwatches, head-mounted displays, smart clothing, wristbands, ear-wearables, and other device types) and geography. The study also incorporates a country-level analysis. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type of Device | |
| Smart Watches | |
| Head-mounted Displays | |
| Wristbands | |
| Ear-wearables | |
| Other Device Types (Smart Clothing) |
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Wearable Technology Market Research FAQsHow big is the wearable technology market. The Wearable Technology Market size is expected to reach USD 186.48 billion in 2024 and grow at a CAGR of 17.60% to reach USD 493.26 billion by 2029. What is the current Wearable Technology Market size?In 2024, the Wearable Technology Market size is expected to reach USD 186.48 billion. Who are the key players in Wearable Technology Market?Apple Inc., Samsung Group, Xiaomi Inc., Fitbit Inc. and Sony Corporation are the major companies operating in the Wearable Technology Market. Which is the fastest growing region in Wearable Technology Market?Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Which region has the biggest share in Wearable Technology Market?In 2024, the North America accounts for the largest market share in Wearable Technology Market. What years does this Wearable Technology Market cover, and what was the market size in 2023?In 2023, the Wearable Technology Market size was estimated at USD 153.66 billion. The report covers the Wearable Technology Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Wearable Technology Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. What is the fastest-growing segment in the Wearable Technology Market?Smartwatches are the fastest-growing segment in the wearable technology market, due to their diverse functionalities and increasing demand for health monitoring features. Our Best Selling Reports
Wearable Technology Industry ReportThe wearable technology market is thriving, with a surge in consumer adoption of smart devices like smartwatches, fitness trackers, and health monitoring gadgets. These devices are popular for tracking health metrics and are seeing increased demand in consumer electronics and healthcare for their data monitoring capabilities. Innovations such as AI and AR integration are enhancing functionalities, appealing to a wide audience including athletes and healthcare professionals. The rise of smart clothing further integrates technology seamlessly into apparel. Despite challenges like counterfeit products, the market is set for growth, driven by technological advancements and a focus on health and fitness. Products tailored to various sports and activities meet diverse consumer needs, with North America and the Asia Pacific leading in market share and growth rate. The future of wearable technology is promising, with vast opportunities for innovation and market development. For detailed market share, size, and revenue growth rate, access a free report PDF download from Mordor Intelligence™ Industry Reports. Wearable Technology Market Report Snapshots
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Consumer Electronics Wearables - statistics & factsEarwear and smartwatches drive the wearable market, apple watch and airpods are most popular among consumers, key insights. Detailed statistics Total wearable device unit shipments worldwide 2014-2028 Digital fitness & well-being device market revenue worldwide 2020-2029, by segment ARPU in the digital fitness & well-being market Worldwide 2019-2029 Editor’s Picks Current statistics on this topicWearables shipments worldwide market share 2014-2023, by vendor Smartwatch market share worldwide 2014-2021, by vendor Wearables shipments worldwide market share 2014-2022, by vendor Further recommended statistics
Wearables unit shipments worldwide from 2014 to 2028 (in millions) Wearable device shipments worldwide 2021-2028, by product category Global wearable device shipments from 2021 to 2028, by product category (in millions) Digital fitness & well-being device market revenue worldwide 2020-2029, by segment Revenue of the digital fitness & well-being device market worldwide from 2020 to 2029, by segment (in billion U.S. dollars) ARPU in the digital fitness & well-being market Worldwide 2019-2029 Average revenue per unit (ARPU) in the digital fitness & well-being segment of the digital health market Worldwide from 2019 to 2029
Revenue of the smartwatches industry worldwide 2020-2029 Revenue of the smartwatches market worldwide from 2020 to 2029 (in billion U.S. dollars) Revenue growth of smartwatches worldwide 2020-2029 Revenue growth of the smartwatches market worldwide from 2020 to 2029 Smartwatch shipments 2020-2022, by region Share of smartwatch shipments from 2020 to 2022, by region Revenue of the headphones industry worldwide 2019-2029 Revenue of the headphones market worldwide from 2019 to 2029 (in million U.S. dollars) Revenue growth of headphones worldwide 2020-2029 Revenue growth of the headphones market worldwide from 2020 to 2029 Worldwide shipments of headphones 2013-2022 Unit shipments of headphones worldwide from 2013 to 2022 (in millions)
Wearables unit shipments worldwide 2014-2022, by vendor Wearables unit shipments worldwide from 2014 to 2022 (in millions), by vendor Quarterly wearables shipments worldwide 2014-2023, by vendor Wearables unit shipments worldwide by vendor from 1st quarter 2014 to 3rd quarter 2023 (in millions) Market share of wearables unit shipments worldwide from 2014 to 2022, by vendor Market share of wearables unit shipments worldwide from 1st quarter 2014 to 3rd quarter 2023, by vendor Companies with the most wearables patents worldwide 2012-2021 Largest patent owners in wearables worldwide from 2012 to 2021, by number of active patent families Global smartwatch market share 2020-2022, by vendor Smartwatch market share worldwide from 2020 to 2022, by vendor Smartwatch unit shipment share worldwide 2018-2023, by vendor Quarterly smartwatch unit shipment share worldwide from 2018 to 2023, by vendor Consumption
Wearable devices ownership in selected countries 2024 Wearable devices ownership in selected countries as of March 2024 Wearable devices usage in selected countries 2024 Wearable devices usage in selected countries as of March 2024 Number of users of smartwatches worldwide 2020-2029 Number of users of smartwatches worldwide from 2020 to 2029 (in millions) Most used eHealth tracker / smart watches by brand in the U.S. 2024 Most used eHealth tracker / smart watches by brand in the U.S. as of June 2024 Most used eHealth tracker / smart watches by brand in the UK 2024 Most used eHealth tracker / smart watches by brand in the UK as of June 2024 Most used eHealth tracker / smart watches by brand in Germany 2024 Most used eHealth tracker / smart watches by brand in Germany as of June 2024 Most used headphones by brand in the U.S. 2024 Most used headphones by brand in the U.S. as of June 2024 Most used headphones by brand in the UK 2024 Most used headphones by brand in the UK as of June 2024 Most used headphones by brand in Germany 2024 Most used headphones by brand in Germany as of June 2024 Special focus: XR devices
AR/VR B2C market revenue worldwide 2019-2029, by segment AR/VR B2C market revenue worldwide from 2019 to 2029, by segment (in billion U.S. dollars) Revenue of the VR headsets industry worldwide 2019-2029 Revenue of the VR headsets market worldwide from 2019 to 2029 (in billion U.S. dollars) Revenue growth of VR headsets worldwide 2020-2029 Revenue growth of the VR headsets market worldwide from 2020 to 2029 Volume of VR headsets worldwide 2019-2029 Volume of the VR headsets market worldwide from 2019 to 2029 (in millions) Comparison of AR headsets and glasses worldwide 2024, by price Comparison of augmented reality (AR) headsets and glasses worldwide in 2024, by price (in U.S. dollars) Further reportsGet the best reports to understand your industry. Mon - Fri, 9am - 6pm (EST) Mon - Fri, 9am - 5pm (SGT) Mon - Fri, 10:00am - 6:00pm (JST) Mon - Fri, 9:30am - 5pm (GMT)
Wearable Technology Market Global Wearable Technology Market to Reach 1,190.24 Million Shipments by 2032, Aided by the Rising Technology  Global Wearable Technology Market Size, Report: By Component: Software, Service; By Type: Wrist-Wear, Eye-Wear and Head-Wear, Others; By Technology: Computing Technology, Display Technology, Others; By Application: Consumer Electronics, Healthcare, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Wearable Technology Market OutlookThe global wearable technology market reached a volume of about 289.89 million shipments in 2023. The industry is further expected to grow at a CAGR of about 17% in the forecast period of 2024-2032 to reach a value of around 1,190.24 million shipments by 2032.  Read more about this report - REQUEST FREE SAMPLE COPY IN PDF North America Leading the Wearable Technology IndustryNorth America is known to be one of the centres of technological development around the world. With the launch of smart gadgets, the demand for sophisticated and multi-functional devices is growing. Increasing disposable income and a high rate of adoption of the new wearable devices are key drivers for the market growth in the region. The presence of leading players including Garmin, Apple, and Fitbit also adds to the growth of the wearable technology industry. The regional market is witnessing the inflow of capital from various North American sports associations. Investments are expected to fuel the wearable technology industry in the region. Wearable Technology: Market SegmentationWearable technology is, mainly, an electronic object incorporated with technology. The wearable technology can be easily worn on body to monitor real-time details. Wearable technology includes wristbands that can be worn on the wrist and helps monitor details such as pulse, heart rate, walking steps, sleeping hours, and many others. Wristbands released by Jawbone, Apple, Fitbit, and many others serve as activity trackers. This has built a large customer base across the globe. The significant customer base is due to the improvement in health brought on by wearable technology.  Based on component, the industry can be divided into: The type of the product can be divided as follows:
The technology can be segmented as follows:
It finds wide applications in the following:
The regional markets for wearable technology can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.  Rising Use of Internet Bolstering the Market GrowthThe increasing penetration of the Internet of Things (IoT) and connected devices and the increasing technically sound population are expected to drive demand. Growing concerns about obesity and other chronic diseases have led to the adoption of wearable devices, including body monitors and activity trackers, which provide real-time information on overall health. These wearable products can include information such as blood pressure, oxygen levels, sleep quality and quantity, calorie intake, cholesterol levels, pulse monitoring, and other information needed by the body for day-to-day activities. Increased popularity over the benefits of these devices among professional athletes and leisure fitness customers is expected to fuel demand for fitness and wellness products over the forecast period. Key Industry Players in the Global Wearable Technology MarketThe report gives a detailed analysis of the following key players in the global wearable technology market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. Key Highlights of the Report
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions. 1 Preface 2 Report Coverage – Key Segmentation and Scope 3 Report Description 3.1 Market Definition and Outlook 3.2 Properties and Applications 3.3 Market Analysis 3.4 Key Players 4 Key Assumptions 5 Executive Summary 5.1 Overview 5.2 Key Drivers 5.3 Key Developments 5.4 Competitive Structure 5.5 Key Industrial Trends 6 Snapshot 6.1 Global 6.2 Regional 7 Opportunities and Challenges in the Market 8 Global Wearable Technology Market Analysis 8.1 Key Industry Highlights 8.2 Global Wearable Technology Historical Market (2018-2023) 8.3 Global Wearable Technology Market Forecast (2024-2032) 8.4 Global Wearable Technology Market by Component 8.4.1 Software 8.4.1.1 Historical Trend (2018-2023) 8.4.1.2 Forecast Trend (2024-2032) 8.4.2 Service 8.4.2.1 Historical Trend (2018-2023) 8.4.2.2 Forecast Trend (2024-2032) 8.5 Global Wearable Technology Market by Type 8.5.1 Wrist-Wear 8.5.1.1 Historical Trend (2018-2023) 8.5.1.2 Forecast Trend (2024-2032) 8.5.2 Eye-Wear and Head-Wear 8.5.2.1 Historical Trend (2018-2023) 8.5.2.2 Forecast Trend (2024-2032) 8.5.3 Foot-Wear 8.5.3.1 Historical Trend (2018-2023) 8.5.3.2 Forecast Trend (2024-2032) 8.5.4 Neck-Wear 8.5.4.1 Historical Trend (2018-2023) 8.5.4.2 Forecast Trend (2024-2032) 8.5.5 Body-Wear 8.5.5.1 Historical Trend (2018-2023) 8.5.5.2 Forecast Trend (2024-2032) 8.5.6 Others 8.6 Global Wearable Technology Market by Technology 8.6.1 Computing Technology 8.6.1.1 Historical Trend (2018-2023) 8.6.1.2 Forecast Trend (2024-2032) 8.6.2 Display Technology 8.6.2.1 Historical Trend (2018-2023) 8.6.2.2 Forecast Trend (2024-2032) 8.6.3 Networking Technology 8.6.3.1 Historical Trend (2018-2023) 8.6.3.2 Forecast Trend (2024-2032) 8.6.4 Positioning Technology 8.6.4.1 Historical Trend (2018-2023) 8.6.4.2 Forecast Trend (2024-2032) 8.6.5 Sensor Technology 8.6.5.1 Historical Trend (2018-2023) 8.6.5.2 Forecast Trend (2024-2032) 8.6.6 Others 8.7 Global Wearable Technology Market by Application 8.7.1 Consumer Electronics 8.7.1.1 Historical Trend (2018-2023) 8.7.1.2 Forecast Trend (2024-2032) 8.7.2 Healthcare 8.7.2.1 Historical Trend (2018-2023) 8.7.2.2 Forecast Trend (2024-2032) 8.7.3 Enterprise and Industrial Application 8.7.3.1 Historical Trend (2018-2023) 8.7.3.2 Forecast Trend (2024-2032) 8.7.4 Others 8.8 Global Wearable Technology Market by Region 8.8.1 North America 8.8.1.1 Historical Trend (2018-2023) 8.8.1.2 Forecast Trend (2024-2032) 8.8.2 Europe 8.8.2.1 Historical Trend (2018-2023) 8.8.2.2 Forecast Trend (2024-2032) 8.8.3 Asia Pacific 8.8.3.1 Historical Trend (2018-2023) 8.8.3.2 Forecast Trend (2024-2032) 8.8.4 Latin America 8.8.4.1 Historical Trend (2018-2023) 8.8.4.2 Forecast Trend (2024-2032) 8.8.5 Middle East and Africa 8.8.5.1 Historical Trend (2018-2023) 8.8.5.2 Forecast Trend (2024-2032) 9 North America Wearable Technology Market Analysis 9.1 United States of America 9.1.1 Historical Trend (2018-2023) 9.1.2 Forecast Trend (2024-2032) 9.2 Canada 9.2.1 Historical Trend (2018-2023) 9.2.2 Forecast Trend (2024-2032) 10 Europe Wearable Technology Market Analysis 10.1 United Kingdom 10.1.1 Historical Trend (2018-2023) 10.1.2 Forecast Trend (2024-2032) 10.2 Germany 10.2.1 Historical Trend (2018-2023) 10.2.2 Forecast Trend (2024-2032) 10.3 France 10.3.1 Historical Trend (2018-2023) 10.3.2 Forecast Trend (2024-2032) 10.4 Italy 10.4.1 Historical Trend (2018-2023) 10.4.2 Forecast Trend (2024-2032) 10.5 Others 11 Asia Pacific Wearable Technology Market Analysis 11.1 China 11.1.1 Historical Trend (2018-2023) 11.1.2 Forecast Trend (2024-2032) 11.2 Japan 11.2.1 Historical Trend (2018-2023) 11.2.2 Forecast Trend (2024-2032) 11.3 India 11.3.1 Historical Trend (2018-2023) 11.3.2 Forecast Trend (2024-2032) 11.4 ASEAN 11.4.1 Historical Trend (2018-2023) 11.4.2 Forecast Trend (2024-2032) 11.5 Australia 11.5.1 Historical Trend (2018-2023) 11.5.2 Forecast Trend (2024-2032) 11.6 Others 12 Latin America Wearable Technology Market Analysis 12.1 Brazil 12.1.1 Historical Trend (2018-2023) 12.1.2 Forecast Trend (2024-2032) 12.2 Argentina 12.2.1 Historical Trend (2018-2023) 12.2.2 Forecast Trend (2024-2032) 12.3 Mexico 12.3.1 Historical Trend (2018-2023) 12.3.2 Forecast Trend (2024-2032) 12.4 Others 13 Middle East and Africa Wearable Technology Market Analysis 13.1 Saudi Arabia 13.1.1 Historical Trend (2018-2023) 13.1.2 Forecast Trend (2024-2032) 13.2 United Arab Emirates 13.2.1 Historical Trend (2018-2023) 13.2.2 Forecast Trend (2024-2032) 13.3 Nigeria 13.3.1 Historical Trend (2018-2023) 13.3.2 Forecast Trend (2024-2032) 13.4 South Africa 13.4.1 Historical Trend (2018-2023) 13.4.2 Forecast Trend (2024-2032) 13.5 Others 14 Market Dynamics 14.1 SWOT Analysis 14.1.1 Strengths 14.1.2 Weaknesses 14.1.3 Opportunities 14.1.4 Threats 14.2 Porter’s Five Forces Analysis 14.2.1 Supplier’s Power 14.2.2 Buyer’s Power 14.2.3 Threat of New Entrants 14.2.4 Degree of Rivalry 14.2.5 Threat of Substitutes 14.3 Key Indicators for Demand 14.4 Key Indicators for Price 15 Value Chain Analysis 16 Competitive Landscape 16.1 Market Structure 16.2 Company Profiles 16.2.1 Apple Inc. 16.2.1.1 Company Overview 16.2.1.2 Product Portfolio 16.2.1.3 Demographic Reach and Achievements 16.2.1.4 Certifications 16.2.2 Samsung Electronics Co., Ltd. 16.2.2.1 Company Overview 16.2.2.2 Product Portfolio 16.2.2.3 Demographic Reach and Achievements 16.2.2.4 Certifications 16.2.3 Fitbit, Inc. 16.2.3.1 Company Overview 16.2.3.2 Product Portfolio 16.2.3.3 Demographic Reach and Achievements 16.2.3.4 Certifications 16.2.4 Xiaomi Corp 16.2.4.1 Company Overview 16.2.4.2 Product Portfolio 16.2.4.3 Demographic Reach and Achievements 16.2.4.4 Certifications 16.2.5 Alphabet Inc. 16.2.5.1 Company Overview 16.2.5.2 Product Portfolio 16.2.5.3 Demographic Reach and Achievements 16.2.5.4 Certifications 16.2.6 LG Electronics, Inc. 16.2.6.1 Company Overview 16.2.6.2 Product Portfolio 16.2.6.3 Demographic Reach and Achievements 16.2.6.4 Certifications 16.2.7 Huawei Technologies Co., Ltd. 16.2.7.1 Company Overview 16.2.7.2 Product Portfolio 16.2.7.3 Demographic Reach and Achievements 16.2.7.4 Certifications 16.2.8 Others 17 Key Trends and Developments in the Market List of Key Figures and Tables 1. Global Wearable Technology Market: Key Industry Highlights, 2018 and 2032 2. Global Wearable Technology Historical Market: Breakup by Component (USD Billion), 2018-2023 3. Global Wearable Technology Market Forecast: Breakup by Component (USD Billion), 2024-2032 4. Global Wearable Technology Historical Market: Breakup by Type (USD Billion), 2018-2023 5. Global Wearable Technology Market Forecast: Breakup by Type (USD Billion), 2024-2032 6. Global Wearable Technology Historical Market: Breakup by Technology (USD Billion), 2018-2023 7. Global Wearable Technology Market Forecast: Breakup by Technology (USD Billion), 2024-2032 8. Global Wearable Technology Historical Market: Breakup by Application (USD Billion), 2018-2023 9. Global Wearable Technology Market Forecast: Breakup by Application (USD Billion), 2024-2032 10. Global Wearable Technology Historical Market: Breakup by Region (USD Billion), 2018-2023 11. Global Wearable Technology Market Forecast: Breakup by Region (USD Billion), 2024-2032 12. North America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023 13. North America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032 14. Europe Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023 15. Europe Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032 16. Asia Pacific Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023 17. Asia Pacific Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032 18. Latin America Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023 19. Latin America Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032 20. Middle East and Africa Wearable Technology Historical Market: Breakup by Country (USD Billion), 2018-2023 21. Middle East and Africa Wearable Technology Market Forecast: Breakup by Country (USD Billion), 2024-2032 22. Global Wearable Technology Market Structure What was the global wearable technology market size in 2023?In 2023, the market attained a volume of nearly 289.89 million shipments. What is the growth rate of the global wearable technology market?The market is projected to grow at a CAGR of 17% between 2024 and 2032. What is the forecast outlook of the global wearable technology market for 2024-2032?The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about 1,190.24 million shipments by 2032. What are the major market drivers?The growth of the market is driven by factors like rising disposable incomes, increased penetration of internet and smartphones, and growing technological advancements. What are the key trends of the market?Rising investments and growing demand for real-time health monitoring gadgets are the key trends of the market. What are the major regional markets of wearable technology, according to the EMR report?The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific. What are the leading components of wearable technology in the market?The leading components of wearable technology in the market are software and service. What are the major types of wearable technology in the market?The major types of wearable technology in the market are wrist-wear, eye-wear and head-wear, foot-wear, neck-wear, and body-wear, among others. What are the significant technologies in the market?The significant technologies in the market are computing technology, display technology, networking technology, positioning technology, and sensor technology, among others. What are the leading applications in the market?The leading applications in the market are consumer electronics, healthcare, and enterprise and industrial application, among others. Who are the key market players, according to the report?The key players in the global wearable technology market are Apple Inc., Samsung Electronics Co., Ltd., Fitbit, Inc., Xiaomi Corp, Alphabet Inc., LG Electronics, Inc., and Huawei Technologies Co., Ltd., among others. The global wearable technology market attained a volume of 289.89 million shipments in 2023, driven by the rising penetration of internet and smartphones. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 17%. The market is projected to reach 1,190.24 million shipments by 2032. EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By component, the market is bifurcated into software and service. Based on type, the industry is divided into wrist-wear, eye-wear and head-wear, foot-wear, neck-wear, and body-wear, among others. On the basis of technology, the market is segmented into computing technology, display technology, networking technology, positioning technology, and sensor technology, among others. By application, the industry is categorised into consumer electronics, healthcare, and enterprise and industrial application, among others. The major regional markets for wearable technology are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include Apple Inc., Samsung Electronics Co., Ltd., Fitbit, Inc., Xiaomi Corp, Alphabet Inc., LG Electronics, Inc., and Huawei Technologies Co., Ltd., among others. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition. 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Wearable Technology Market Size, Share & Industry Trends Growth Analysis Report by Product (Wristwear, Headwear, Footwear, Fashion & Jewelry, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography - Global Growth Driver and Industry Forecast
Wearable Technology Market Size & GrowthIncreasing growth prospects of next-generation displays in wearable devices, surge in demand for IoT devices and growing demand for smart devices in the healthcare applications are the factors driving the growth of the market during the forecast period.  To know about the assumptions considered for the study, Request for Free Sample Report Wearable Technology Market Segment OverviewApac to register highest cagr during the forecast period. The APAC region is known as a major manufacturing hub. Countries such as India and China have major manufacturing facilities for various industrial segments (including consumer electronics, car manufacturing, and heavy materials, among others). This creates huge opportunities for the wearable technology industry to grow at the highest rate for the enterprise and industrial application. Increase in per capita income in developing countries, high population in many countries of the region and affordability of wearable devices for customers at a low price by manufacturers in India and China and countries such as Japan, Singapore, China and Australia, which are proving to be digitally mature markets are the major reasons for APAC to capture largest market share. Wristwear to hold the largest market share during the forecast periodWearable technology market share is broadly segmented into products such as wristwear, headwear and eyewear, footwear, fashion & jewelry, bodywear, and others. The wearable technology market for wristwear is expected to be valued at USD 77.9 billion in 2021, while headwear is expected to grow at the highest CAGR of 30.0% between 2021 and 2026. Wristwear gained importance because of its multi-functional applications. With the integration of advanced technologies, the wristwear segment currently provides opportunities for the wearable technology market and would continue to do so in the coming years as well. Moreover, wristwear, headwear & eyewear, and bodywear would be the best segments to invest in the next few years. Headwear & eyewear includes products such as AR and product and technology used in various high-class applications such as the industrial segment, video gaming, and entertainment. The major consumer electronic players in the region include Sony Corp. (Japan), Panasonic Corp. (Japan), Samsung Corp. (South Korea) and LG Electronics (South Korea).  To know about the assumptions considered for the study, download the pdf brochure Top Wearable Technology Companies - Key Market PlayersThe wearable technology market is dominated by a few globally established players such as
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Wearable Technology Market Report Scope
Wearable Technology Market DynamicsDriver: growing consumer preference for sleek and compact devices in fitness and healthcare applications. With wearable electronic devices all set to join the mainstream of personal computing, it is expected that the consumer preference for sleek and compact wearable devices would be the key driver for the wearable technology market. Wearable devices, specifically smartwatches and wristbands, are gaining traction among consumers worldwide. Also, there is an increase in demand for wearables in fitness and healthcare applications. Wearable medical devices are handheld monitoring tools used for the identification and monitoring of potential diseases. Currently, several patients are opting for home healthcare, which is a cost-effective and efficient way of treatment, over hospital services. Wearable technologies could help in lowering costs by facilitating easy health and fitness monitoring and connecting people to their healthcare providers. Restraint: Limited battery lifeThe absence of efficient and reliable battery system without compromising the ease of use of wearable device and its compactnessis a limiting factor in the wearable technology market. A major challenge to be addressed is to manage power consumption, power requirement and recharging of batteries. Managing power consumption in a cost efficient manner to meet the power efficiency of wearable devices is the factor that is expected to have restraining impact on the market. Opportunity: Multiple application adoption of wearablesThe wearable technology market is expected to witness an increasing number of new product launches. The application area for these devices is increasing rapidly-from wellness and fitness to more sophisticated and complex sectors such as medical and military-owing to the technical maturity of wearable devices. All these factors, coupled with high growth potential, would enable the rapid growth of the wearable technology market. Challenge: Unaddressed regulatory issues and vulnerability of healthcare informationRegulatory requirements, especially for medical devices, are well established worldwide; however, other devices which can also be used in the medical application owing to advancements in technology are not yet required to follow the same rules. Wearables are designed to capture various data including personal, fitness, and financial data, and transmit this data for analysis or sharing; thus, challenges with regard to information security need to be handled. With further market growth and emergence of such issues, governments are expected to implement certain rules and regulations regarding privacy, security, data ownership, and consent. The GDPR has established a set of principles and tools for developers of smart glasses to assess privacy impacts. It includes recommendations to establish a new framework for privacy and electronic communication, as proposed with the ePrivacy regulation Key Market Growth Drivers for Wearable Technology Market Trends in the FutureWearable technology market report categorization. The study categorizes the wearable technology market based on product, type, application at the regional and global levels.
By Product:
By Application:
Wearable Technology Market Analysis By Region
Recent Developments in Wearable Technology Industry
Frequently Asked Questions (FAQ):How big wearable technology market. The global wearable technology market size is valued at USD 116.2 billion in 2021 and is anticipated to USD 265.4 billion by 2026; growing at a CAGR of 18.0% from 2021 to 2026. Which impact does IOT and connected device have on wearable technology market ?The IoT refers to the phenomenon in which not only computers but all sorts of devices with embedded computing capacity are interconnected. These include self-driving cars, drones, smart sensors, connected homes, and wearable devices. For consumers, IoT technologies offer an array of new devices and service options that make lives and jobs easier. This is especially the case with the subset of IoT technologies known as wearables. Also, IoT plays a significant role in a broad range of healthcare applications—from managing chronic diseases to preventing diseases. Dementia and other similar conditions often cause older adults to become confused or lost in both familiar and unfamiliar places; in such cases, tracking them is very important. Companies such as AngelSense, Pocketfinder, iTraq, Trax, Spy Tec, Yepzon, SPOT, GPS SmartSole, Trackimo, and Medical Guardian are providing such medical tracking solutions to aid senior citizens. What are ring scanners in wearable technology market?ring scanner is an industrial scanning device worn on the arm. It is a highly compact device which provides mobility and hands-free motion to workers. Ring scanners are equipped with display and wireless connectivity such as Bluetooth and Wi-Fi. They can scan one-dimensional and two-dimensional barcodes. Companies such as Honeywell International Inc. (US) and Zebra Technologies (US) are engaged in manufacturing ring scanners. What is the impact and usage of intelligent virtual assistant in the wearable technology market?An intelligent virtual assistant hnadles high volume data, effective communication support and carries out intelligent tasks such as speech recognition, visual perception and decision making. These visual assistants are adopted by soprts and wellness industry as well in current scenario and are the latest technological trends in the wearable technology market. Which are the major players in the wearable technology market?Apple Inc. (US), Sony Corporation(Japan), Samsung Electronics Co., Ltd.(South Korea), Huawei(China), Fitbit Inc. (US), Google LLC(US), Garmin Ltd.(Switzerland),LG(South Korea), Xiaomi Corporation(China), and Microsoft (US)are the players dominating the global wearable technology market. What aspects of the wearable technology market are expanding?A number of factors, such as the rising interest in fitness and wellness, the rising demand for connected devices, and the growing focus on health and wellness, are propelling the growth of the wearable technology market. What issues does the market for wearable technology face?Intense competition from low-cost suppliers, the quick evolution of wearable technology, and the need for stable and dependable technology platforms are all obstacles facing the market for wearable technology. Which of the various wearable technology items are on the market today?Among the various wearable technology items on the market are smartwatches, fitness trackers, smart glasses, and other wearable gadgets. To speak to our analyst for a discussion on the above findings, click Speak to Analyst TABLE OF CONTENTS 1 INTRODUCTION (Page No. - 27) 1.1 STUDY OBJECTIVES 1.2 MARKET DEFINITION 1.2.1 INCLUSIONS AND EXCLUSIONS 1.3 STUDY SCOPE 1.3.1 MARKETS COVERED FIGURE 1 MARKETS COVERED UNDER WEARABLE TECHNOLOGY 1.3.2 YEARS CONSIDERED 1.4 CURRENCY AND PRICING 1.5 LIMITATIONS 1.6 STAKEHOLDERS 1.7 SUMMARY OF CHANGES DONE 2 RESEARCH METHODOLOGY (Page No. - 32) 2.1 RESEARCH DATA FIGURE 2 RESEARCH DESIGN 2.1.1 SECONDARY AND PRIMARY RESEARCH 2.1.1.1 Key data from secondary sources 2.1.2 PRIMARY DATA 2.1.2.1 Key data from primary sources 2.1.2.2 Key industry insights 2.1.2.3 Breakdown of primaries 2.2 MARKET SIZE ESTIMATION 2.2.1 BOTTOM-UP APPROACH 2.2.1.1 Approach for arriving at market share by bottom-up analysis (demand side) 2.2.2 TOP-DOWN APPROACH 2.2.2.1 Approach for arriving at market share by top-down analysis (supply side) FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY FOR WEARABLE TECHNOLOGY MARKET THROUGH SUPPLY-SIDE ANALYSIS 2.3 MARKET BREAKDOWN AND DATA TRIANGULATION FIGURE 4 DATA TRIANGULATION 2.4 RESEARCH ASSUMPTIONS 2.5 RISK ASSESSMENT 3 EXECUTIVE SUMMARY (Page No. - 41) FIGURE 5 MARKET (2021–2026) (USD BILLION) FIGURE 6 HEADWEAR IN MARKET TO GROW AT HIGHEST RATE BETWEEN 2021 VS 2026 3.1 COVID-19 IMPACT ON MARKET FIGURE 7 COVID-19 IMPACT ON MARKET 3.1.1 REALISTIC SCENARIO (POST-COVID-19) 3.1.2 OPTIMISTIC SCENARIO (POST-COVID-19) 3.1.3 PESSIMISTIC SCENARIO (POST-COVID-19) FIGURE 8 CONSUMER ELECTRONICS TO BE LARGEST MARKET FOR WEARABLE TECHNOLOGY BETWEEN 2021 AND 2026 FIGURE 9 APAC TO ACCOUNT FOR LARGEST SHARE OF MARKET DURING FORECAST PERIOD 4 PREMIUM INSIGHTS (Page No. - 46) 4.1 WEARABLE TECHNOLOGY MARKET OPPORTUNITIES FIGURE 10 MARKET TO DISPLAY LUCRATIVE GROWTH OPPORTUNITIES OWING TO INCREASING DEMAND FOR FITNESS AND HEALTH TRACKING DEVICES DURING FORECAST PERIOD 4.2 MARKET, BY APPLICATION, 2021–2026 (USD BILLION) FIGURE 11 MARKET FOR ENTERPRISE & INDUSTRIAL SEGMENT TO WITNESS HIGHEST GROWTH RATE BETWEEN 2021 AND 2026 4.3 MARKET FOR WRISTWEAR, BY PRODUCT, 2021 VS. 2026 (USD BILLION) FIGURE 12 MARKET FOR SMARTWATCH TO GROW RAPIDLY BETWEEN 2021 AND 2026 4.4 MARKET, BY APPLICATION AND REGION FIGURE 13 MARKET FOR CONSUMER ELECTRONICS ACCOUNTED FOR LARGEST MARKET SHARE IN 2020 4.5 GEOGRAPHICAL SNAPSHOT OF THE MARKET FIGURE 14 MARKET IN APAC TO GROW AT HIGHEST RATE BETWEEN 2021 AND 2026 5 MARKET OVERVIEW (Page No. - 50) 5.1 INTRODUCTION 5.2 MARKET DYNAMICS FIGURE 15 WEARABLE TECHNOLOGY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 5.2.1 DRIVERS 5.2.1.1 Increasing growth prospects of next-generation displays in wearable devices 5.2.1.2 Growing consumer preference for sleek and compact devices in fitness and healthcare applications 5.2.1.3 Rising popularity of IoT and connected devices TABLE 1 DRIVER IMPACT ANALYSIS 5.2.2 RESTRAINTS 5.2.2.1 Limited battery life TABLE 2 RESTRAINT IMPACT ANALYSIS 5.2.3 OPPORTUNITIES 5.2.3.1 Demand for wearables that integrate all computing requirements in one compact device 5.2.3.2 Adoption of wearables in multiple applications TABLE 3 OPPORTUNITY IMPACT ANALYSIS 5.2.4 CHALLENGES 5.2.4.1 Demand for continuous developments in devices 5.2.4.2 Unaddressed regulatory issues and vulnerability of healthcare information TABLE 4 IMPACT ANALYSIS 5.3 SUPPLY CHAIN ANALYSIS 5.3.1 CORE INDUSTRY SEGMENT 5.3.2 SUPPORTING INDUSTRY SEGMENT FIGURE 16 WEARABLE TECHNOLOGY MARKET: SUPPLY CHAIN FLOW 5.4 VALUE CHAIN ANALYSIS FIGURE 17 VALUE CHAIN ANALYSIS OF MARKET 5.5 ECOSYSTEM ANALYSIS TABLE 5 ECOSYSTEM: WEARABLE TECHNOLOGY FIGURE 18 YC-YCC SHIFT: WEARABLE TECHNOLOGY 5.6 PORTER’S FIVE FORCES ANALYSIS 5.6.1 BARGAINING POWER OF SUPPLIERS 5.6.2 BARGAINING POWER OF BUYERS 5.6.3 THREAT OF NEW ENTRANTS 5.6.4 THREAT OF SUBSTITUTES 5.6.5 INTENSITY OF COMPETITIVE RIVALRY TABLE 6 IMPACT OF EACH FORCE ON MARKET 5.7 TECHNOLOGY ANALYSIS 5.7.1 GROWING POPULARITY OF IOT AND CONNECTED DEVICES 5.7.2 AI-BASED VIRTUAL ASSISTANCE IN WEARABLES 5.8 PRICING ANALYSIS TABLE 7 AVERAGE SELLING PRICE FOR WEARABLE DEVICES, BY TYPE, 2020 FIGURE 19 AVERAGE SELLING PRICE FOR WEARABLE DEVICES, 2020 -2026 5.9 TRADE ANALYSIS TABLE 8 IMPORT DATA, BY COUNTRY, 2015–2019 (USD MILLION) TABLE 9 EXPORT DATA, 2015–2019 (USD MILLION) 5.10 USE CASES AND CASE STUDY OF WEARABLE DEVICES TABLE 10 USE CASES AND CASE STUDY OF WEARABLE DEVICES TABLE 11 MARKET ASSESSMENT OF TELEMATICS-RELATED WEARABLE DEVICES TABLE 12 MARKET ASSESSMENT OF TINY TOOTH-MOUNTED SENSOR WEARABLE TECHNOLOGY TABLE 13 MARKET ASSESSMENT OF TAPPY TECH’S WEARABLE PAYMENTS TECHNOLOGY TABLE 14 MARKET ASSESSMENT OF COLLABORATION BETWEEN BANK OF AMERICA AND FITPAY TO SPEED UP WEARABLE PAYMENTS 5.11 COVID-19 IMPACT ON WEARABLE TECHNOLOGY MARKET 5.12 PATENT ANALYSIS OF MEDICAL WEARABLE DEVICES TABLE 15 PATENT ANALYSIS TABLE 16 PATENTS IN WEARABLE PAYMENT DEVICE MARKET 5.13 REGULATIONS 5.14 TRAFFIC LANDSCAPE 5.14.1 TRAFFIC LANDSCAPE TABLE 17 TARIFF DATA FOR WRIST WATCHES FOR CHINA, BY COUNTRY, 2020 TABLE 18 TARIFF DATA FOR WRIST WATCHES FOR US, BY COUNTRY, 2020 TABLE 19 TARIFF DATA FOR WRIST WATCHES FOR GERMANY, BY COUNTRY, 2020 6 SOFTWARE AND SERVICES USED IN WEARABLE TECHNOLOGY (Page No. - 78) 6.1 INTRODUCTION FIGURE 20 SOFTWARE AND SERVICE USED IN WEARABLE TECHNOLOGY 6.2 SOFTWARE 6.2.1 SOFTWARE DEVELOPMENT KITS 6.2.2 OPERATING SYSTEM (0S) 6.2.2.1 watchOS 6.2.2.2 Android 6.2.2.3 Android Wear OS 6.2.2.4 Real-time Operating System (RTOS) 6.2.2.5 Tizen 6.2.2.6 Linux 6.2.2.7 Others 6.2.3 SECURITY SOLUTIONS 6.2.3.1 By security type 6.2.3.1.1 Network security 6.2.3.1.2 Cloud security 6.2.3.1.3 Wireless security 6.2.3.1.4 Application security 6.2.3.2 By solution type 6.2.3.2.1 Role-based access control (RBAC) 6.2.3.2.2 Risk & vulnerability management 6.2.3.2.3 Distributed Denial of Service (DDoS) mitigation 6.2.3.2.4 Intrusion detection and prevention system 6.2.4 APPS (APPLICATIONS) 6.3 IMPACT OF COVID-19 ON SOFTWARE AND SERVICES 6.4 SERVICES 6.4.1 CLOUD & DATA ANALYTICS 7 WEARABLE TECHNOLOGY MARKET, BY TECHNOLOGY (Page No. - 87) 7.1 INTRODUCTION FIGURE 21 MARKET, BY TECHNOLOGY 7.2 COMPUTING TECHNOLOGY 7.3 DISPLAY TECHNOLOGY 7.4 NETWORKING TECHNOLOGY 7.5 POSITIONING TECHNOLOGY 7.6 SENSOR TECHNOLOGY 7.6.1 ACCELEROMETER 7.6.2 GYROSCOPE 7.6.3 MAGNETOMETER 7.6.4 PROXIMITY SENSOR 7.7 COVID-19 IMPACT ON WEARABLE DEVICES AND TECHNOLOGY 8 WEARABLE TECHNOLOGY MARKET, BY COMPONENT (Page No. - 93) 8.1 INTRODUCTION FIGURE 22 MARKET, BY COMPONENT 8.2 POWER SUPPLY COMPONENTS 8.3 POSITIONING AND NETWORKING COMPONENTS 8.4 SENSING COMPONENTS 8.5 CONTROL COMPONENTS 8.6 DISPLAY AND OPTOELECTRONIC COMPONENTS 8.7 MEMORY COMPONENTS 8.8 INTERFACE COMPONENTS 9 WEARABLE TECHNOLOGY MARKET, BY PRODUCT (Page No. - 98) 9.1 INTRODUCTION FIGURE 23 MARKET, BY PRODUCT FIGURE 24 HEADWEAR TO WITNESS HIGHEST GROWTH RATE DURING FORECAST PERIOD TABLE 20 MARKET, BY PRODUCT, 2017–2020 (USD MILLION) TABLE 21 MARKET, BY PRODUCT, 2021–2026 (USD MILLION) TABLE 22 MARKET, BY PRODUCT, 2017–2020 (MILLION UNITS) TABLE 23 MARKET, BY PRODUCT, 2021–2026 (MILLION UNITS) 9.2 WRISTWEAR 9.2.1 SMARTWATCHES 9.2.2 WRISTBANDS TABLE 24 WEARABLE TECHNOLOGY MARKET FOR WRISTWEAR, BY PRODUCT, 2017–2020 (USD MILLION) TABLE 25 MARKET FOR WRISTWEAR, BY PRODUCT, 2021–2026 (USD MILLION) TABLE 26 MARKET FOR WRISTWEAR, BY PRODUCT, 2017–2020 (MILLION UNITS) TABLE 27 MARKET FOR WRISTWEAR, BY PRODUCT, 2021–2026 (MILLION UNITS) 9.3 HEADWEAR 9.3.1 AUGMENTED REALITY HEADSETS 9.3.2 VIRTUAL REALITY HEADSETS 9.3.3 OTHERS TABLE 28 MARKET FOR HEADWEAR, BY PRODUCT, 2017–2020 (USD MILLION) TABLE 29 MARKET FOR HEADWEAR, BY PRODUCT, 2021–2026 (USD MILLION) TABLE 30 MARKET FOR HEADWEAR, BY PRODUCT, 2017–2020 (MILLION UNITS) TABLE 31 MARKET FOR HEADWEAR, BY PRODUCT, 2021–2026 (MILLION UNITS) 9.4 FOOTWEAR TABLE 32 WEARABLE TECHNOLOGY MARKET FOR FOOTWEAR, 2017–2020 (USD MILLION) TABLE 33 MARKET FOR FOOTWEAR, 2021–2026 (USD MILLION) TABLE 34 MARKET FOR FOOTWEAR, 2017–2020 (MILLION UNITS) TABLE 35 MARKET FOR FOOTWEAR, 2021–2026 (MILLION UNITS) 9.5 FASHION AND JEWELRY TABLE 36 MARKET FOR FASHION & JEWELRY, 2017–2020 (USD MILLION) TABLE 37 MARKET FOR FASHION & JEWELRY, 2021–2026 (USD MILLION) TABLE 38 MARKET FOR FASHION & JEWELRY, 2017–2020 (MILLION UNITS) TABLE 39 MARKET FOR FASHION & JEWELRY, 2021–2026 (MILLION UNITS) 9.6 BODYWEAR 9.6.1 INNERWEAR 9.6.2 OUTERWEAR TABLE 40 MARKET FOR BODYWEAR, BY PRODUCT, 2017–2020 (USD MILLION) TABLE 41 MARKET FOR BODYWEAR, BY PRODUCT, 2021–2026 (USD MILLION) TABLE 42 MARKET FOR BODYWEAR, BY PRODUCT, 2017–2020 (MILLION UNITS) TABLE 43 MARKET FOR BODYWEAR, BY PRODUCT, 2021–2026 (MILLION UNITS) 9.7 OTHERS 9.7.1 RING SCANNERS 9.7.2 BODY-WORN CAMERAS 9.7.3 INTERNABLES/IMPLANTABLES TABLE 44 MARKET FOR OTHERS, BY PRODUCT, 2017–2020 (USD MILLION) TABLE 45 MARKET FOR OTHERS, BY PRODUCT, 2021–2026 (USD MILLION) TABLE 46 MARKET FOR OTHERS, BY PRODUCT, 2017–2020 (MILLION UNITS) TABLE 47 MARKET FOR OTHERS, BY PRODUCT, 2021–2026 (MILLION UNITS) 10 WEARABLE TECHNOLOGY MARKET, BY TYPE (Page No. - 115) 10.1 INTRODUCTION FIGURE 25 MARKET, BY TYPE FIGURE 26 NON-TEXTILE TYPE WEARABLE PRODUCTS TO GROW AT HIGHEST CAGR IN MARKET BETWEEN 2021 AND 2026 TABLE 48 MARKET, BY TYPE, 2017–2020 (USD MILLION) TABLE 49 MARKET, BY TYPE, 2021–2026 (USD MILLION) TABLE 50 MARKET, BY TYPE, 2017–2020 (MILLION UNITS) TABLE 51MARKET, BY TYPE, 2021–2026 (MILLION UNITS) 10.2 WEARABLE SMART TEXTILE 10.2.1 WEARABLE SMART TEXTILE MARKET, BY TYPE TABLE 52 WEARABLE SMART TEXTILES MARKET, BY TYPE, 2017–2020 (USD MILLION) TABLE 53 WEARABLE SMART TEXTILES MARKET, BY TYPE, 2021–2026 (USD MILLION) 10.2.1.1 Active smart textiles 10.2.1.2 Passive smart textiles 10.2.1.3 Ultra-smart textiles 10.2.2 RELATED ARTICLES TABLE 54 ACTIVE SMART TEXTILES MARKET, BY FUNCTION, 2017–2020 (USD MILLION) TABLE 55 ACTIVE SMART TEXTILES MARKET, BY FUNCTION, 2021–2026 (USD MILLION) TABLE 56 PASSIVE SMART TEXTILE MARKET, BY FUNCTION, 2017–2020 (USD MILLION) TABLE 57 PASSIVE SMART TEXTILE MARKET, BY FUNCTION, 2021–2026 (USD MILLION) TABLE 58 ULTRA-SMART TEXTILES MARKET, BY FUNCTION, 2017–2020 (USD MILLION) TABLE 59 ULTRA-SMART TEXTILES MARKET, BY FUNCTION, 2021–2026 (USD MILLION) 10.2.3 WEARABLE SMART TEXTILES MARKET, BY FUNCTION TABLE 60 WEARABLE SMART TEXTILES MARKET, BY FUNCTION, 2017–2020 (USD MILLION) TABLE 61 WEARABLE SMART TEXTILES MARKET, BY FUNCTION, 2021–2026 (USD MILLION) 10.2.3.1 Sensing TABLE 62 SMART TEXTILES MARKET FOR SENSING, BY TYPE, 2017–2020 (USD MILLION) TABLE 63 SMART TEXTILES MARKET FOR SENSING, BY TYPE, 2021–2026 (USD MILLION) 10.2.3.2 Energy harvesting TABLE 64 SMART TEXTILES MARKET FOR ENERGY HARVESTING, BY TYPE, 2017–2020 (USD MILLION) TABLE 65 SMART TEXTILES MARKET FOR ENERGY HARVESTING, BY TYPE, 2021–2026 (USD MILLION) 10.2.3.3 Luminescence & aesthetics TABLE 66 SMART TEXTILES MARKET FOR LUMINESCENCE & AESTHETICS, BY TYPE, 2017–2020 (USD MILLION) TABLE 67 SMART TEXTILES MARKET FOR LUMINESCENCE & AESTHETICS, BY TYPE, 2021–2026 (USD MILLION) 10.2.3.4 Thermoelectricity TABLE 68 SMART TEXTILES MARKET FOR THERMOELECTRICITY, BY TYPE, 2017–2020 (USD MILLION) TABLE 69 SMART TEXTILES MARKET FOR THERMOELECTRICITY, BY TYPE, 2021–2026 (USD MILLION) 10.2.3.5 Others TABLE 70 SMART TEXTILES MARKET FOR OTHERS, BY TYPE, 2017–2020 (USD MILLION) TABLE 71 SMART TEXTILES MARKET FOR OTHERS, BY TYPE, 2021–2026 (USD MILLION) 10.3 WEARABLE PRODUCTS & DEVICES (NON-TEXTILES) 11 WEARABLE TECHNOLOGY MARKET, BY APPLICATION (Page No. - 129) 11.1 INTRODUCTION FIGURE 27 MARKET, BY APPLICATION FIGURE 28 CONSUMER ELECTRONICS APPLICATION TO DOMINATE MARKET BETWEEN 2021 AND 2026 TABLE 72 MARKET, BY APPLICATION, 2017–2020 (USD MILLION) TABLE 73 MARKET, BY APPLICATION, 2021–2026 (USD MILLION) TABLE 74 MARKET, BY APPLICATION, 2017–2020 (MILLION UNITS) TABLE 75 MARKET, BY APPLICATION, 2021–2026 (MILLION UNITS) 11.2 CONSUMER ELECTRONICS 11.2.1 FITNESS & SPORTS 11.2.2 INFOTAINMENT & MULTIMEDIA 11.2.3 GARMENTS & FASHION 11.2.4 MULTIFUNCTION TABLE 76 WEARABLE TECHNOLOGY MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2017–2020 (USD MILLION) TABLE 77 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2021–2026 (USD MILLION) TABLE 78 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2017–2020 (MILLION UNITS) TABLE 79 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY TYPE, 2021–2026 (MILLION UNITS) TABLE 80 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2017–2020 (USD MILLION) TABLE 81 MARKET FOR CONSUMER ELECTRONICS APPLICATION, BY REGION, 2021–2026 (USD MILLION) TABLE 82 MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2017–2020 (THOUSAND UNITS) TABLE 83 MARKET FOR CONSUMER ELECTRONICS, BY REGION, 2021–2026 (THOUSAND UNITS) 11.3 HEALTHCARE TABLE 84 WEARABLE TECHNOLOGY MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2017–2020 (USD MILLION) TABLE 85 MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2021–2026 (USD MILLION) TABLE 86 MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2017–2020 (MILLION UNITS) TABLE 87 MARKET FOR HEALTHCARE APPLICATION, BY TYPE, 2021–2026 (MILLION UNITS) 11.3.1 CLINICAL APPLICATIONS 11.3.2 NON-CLINICAL APPLICATIONS TABLE 88 MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD MILLION) TABLE 89 MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD MILLION) TABLE 90 MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2017–2020 (THOUSAND UNITS) TABLE 91 MARKET FOR HEALTHCARE APPLICATION, BY REGION, 2021–2026 (THOUSAND UNITS) 11.4 ENTERPRISE & INDUSTRIAL APPLICATION 11.4.1 LOGISTICS, PACKAGING, & WAREHOUSE 11.4.2 OTHER INDUSTRIAL APPLICATIONS TABLE 92 WEARABLE TECHNOLOGY MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2017–2020 (USD MILLION) TABLE 93 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2021–2026 (USD MILLION) TABLE 94 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2017–2020 (THOUSAND UNITS) TABLE 95 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY TYPE, 2021–2026 (THOUSAND UNITS) TABLE 96 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2017–2020 (USD MILLION) TABLE 97 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2021–2026 (USD MILLION) TABLE 98 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2017–2020 (THOUSAND UNITS) TABLE 99 MARKET FOR ENTERPRISE & INDUSTRIAL APPLICATION, BY REGION, 2021–2026 (THOUSAND UNITS) 11.5 OTHER APPLICATIONS TABLE 100 WEARABLE TECHNOLOGY MARKET FOR OTHER APPLICATIONS (USD MILLION) (MILLION UNITS), 2017–2020 TABLE 101 MARKET FOR OTHER APPLICATIONS (USD MILLION) (MILLION UNITS), 2021–2026 TABLE 102 MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2020 (USD MILLION) TABLE 103 MARKET FOR OTHER APPLICATIONS, BY REGION, 2021–2026 (USD MILLION) TABLE 104 MARKET FOR OTHER APPLICATIONS, BY REGION, 2017–2020 (THOUSAND UNITS) TABLE 105 MARKET FOR OTHER APPLICATIONS, BY REGION, 2021–2026 (THOUSAND UNITS) 12 GEOGRAPHIC ANALYSIS (Page No. - 148) 12.1 INTRODUCTION FIGURE 29 COUNTRY-WISE SNAPSHOT OF MARKET (2021–2026) FIGURE 30 MARKET IN APAC TO GROW AT HIGHEST RATE DURING FORECAST PERIOD TABLE 106 MARKET, BY REGION, 2017–2020 (USD MILLION) TABLE 107 MARKET, BY REGION, 2021–2026 (USD MILLION) TABLE 108 MARKET, BY REGION, 2017–2020 (THOUSAND UNITS) TABLE 109 MARKET, BY REGION, 2021–2026 (THOUSAND UNITS) 12.2 AMERICAS FIGURE 31 AMERICAS: WEARABLE TECHNOLOGY MARKET SNAPSHOT 12.2.1 US 12.2.2 CANADA 12.2.3 MEXICO 12.2.4 OTHERS TABLE 110 MARKET IN AMERICAS, BY COUNTRY, 2017–2020 (USD MILLION) TABLE 111 MARKET IN AMERICAS, BY COUNTRY, 2021–2026 (USD MILLION) TABLE 112 MARKET IN AMERICAS, BY COUNTRY, 2017–2020 (THOUSAND UNITS) TABLE 113 MARKET IN AMERICAS, BY COUNTRY, 2021–2026 (THOUSAND UNITS) TABLE 114 MARKET IN AMERICAS, BY APPLICATION, 2017–2020 (USD MILLION) TABLE 115 MARKET IN AMERICAS, BY APPLICATION, 2021–2026 (USD MILLION) TABLE 116 MARKET IN AMERICAS, BY APPLICATION, 2017–2020 (THOUSAND UNITS) TABLE 117 MARKET IN AMERICAS, BY APPLICATION, 2021–2026 (THOUSAND UNITS) 12.3 EUROPE FIGURE 32 EUROPE: WEARABLE TECHNOLOGY MARKET SNAPSHOT 12.3.1 GERMANY 12.3.2 UK 12.3.3 FRANCE 12.3.4 OTHERS TABLE 118 MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD MILLION) TABLE 119 MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD MILLION) TABLE 120 MARKET IN EUROPE, BY COUNTRY, 2017–2020 (THOUSAND UNITS) TABLE 121 MARKET IN EUROPE, BY COUNTRY, 2021–2026 (THOUSAND UNITS) TABLE 122 MARKET IN EUROPE, BY APPLICATION, 2017–2020 (USD MILLION) TABLE 123 MARKET IN EUROPE, BY APPLICATION, 2021–2026 (USD MILLION) TABLE 124 MARKET IN EUROPE, BY APPLICATION, 2017–2020 (THOUSAND UNITS) TABLE 125 MARKET IN EUROPE, BY APPLICATION, 2021–2026 (THOUSAND UNITS) 12.4 ASIA PACIFIC (APAC) FIGURE 33 ASIA-PACIFIC: WEARABLE TECHNOLOGY MARKET SNAPSHOT 12.4.1 CHINA 12.4.2 JAPAN 12.4.3 SOUTH KOREA 12.4.4 INDIA 12.4.5 OTHERS TABLE 126 MARKET IN APAC, BY COUNTRY, 2017–2020 (USD MILLION) TABLE 127 MARKET IN APAC, BY COUNTRY, 2021–2026 (USD MILLION) TABLE 128 MARKET IN APAC, BY COUNTRY, 2017–2020 (THOUSAND UNITS) TABLE 129 MARKET IN APAC, BY COUNTRY, 2021–2026 (THOUSAND UNITS) TABLE 130 MARKET IN APAC, BY APPLICATION, 2017–2020 (USD MILLION) TABLE 131 MARKET IN APAC, BY APPLICATION, 2021–2026 (USD MILLION) TABLE 132 MARKET IN APAC, BY APPLICATION, 2017–2020 (THOUSAND UNITS) TABLE 133 MARKET IN APAC, BY APPLICATION, 2021–2026 (THOUSAND UNITS) 12.5 REST OF THE WORLD FIGURE 34 REST OF THE WORLD: WEARABLE TECHNOLOGY MARKET SNAPSHOT 12.5.1 MIDDLE EAST 12.5.2 AFRICA TABLE 134 ROW WEARABLE TECHNOLOGY, BY REGION, 2017–2020 (USD MILLION) TABLE 135 ROW WEARABLE TECHNOLOGY, BY REGION, 2021–2026 (USD MILLION) TABLE 136 MARKET IN ROW, BY REGION, 2017–2020 (THOUSAND UNITS) TABLE 137 MARKET IN ROW, BY REGION, 2021–2026 (THOUSAND UNITS) TABLE 138 MARKET IN ROW, BY APPLICATION, 2017–2020 (USD MILLION) TABLE 139 MARKET IN ROW, BY APPLICATION, 2021–2026 (USD MILLION) TABLE 140 MARKET IN ROW, BY APPLICATION, 2017–2020 (THOUSAND UNITS) TABLE 141 MARKET IN ROW, BY APPLICATION, 2021–2026 (THOUSAND UNITS) 13 COMPETITIVE LANDSCAPE (Page No. - 176) 13.1 INTRODUCTION 13.2 TOP 3 COMPANY REVENUE ANALYSIS FIGURE 35 MARKET: REVENUE ANALYSIS (2019) 13.3 MARKET SHARE ANALYSIS, 2020 TABLE 142 MARKET: MARKET SHARE ANALYSIS (2020) 13.4 COMPETITIVE LEADERSHIP MAPPING 13.4.1 STAR 13.4.2 EMERGING LEADER 13.4.3 PERVASIVE 13.4.4 PARTICIPANT FIGURE 36 MARKET: COMPETITIVE LEADERSHIP MAPPING, 2020 13.4.5 MARKET: PRODUCT FOOTPRINT TABLE 143 COMPANY FOOTPRINT TABLE 144 APPLICATION FOOTPRINT OF WEARABLE TECHNOLOGY COMPANIES 13.5 SMALL AND MEDIUM ENTERPRISES (SME) EVALUATION QUADRANT, 2020 13.5.1 PROGRESSIVE COMPANIES 13.5.2 RESPONSIVE COMPANIES 13.5.3 DYNAMIC COMPANIES 13.5.4 STARTING BLOCKS FIGURE 37 MARKET (GLOBAL), SME EVALUATION QUADRANT, 2020 13.6 COMPETITIVE SITUATIONS AND TRENDS 13.6.1 PRODUCT LAUNCHES TABLE 146 MARKET: PRODUCT LAUNCHES, JANUARY 2018–FEBRUARY 2021 13.6.2 DEALS TABLE 147 MARKET: DEALS, JANUARY 2018– FEBRUARY 2021 14 COMPANY PROFILES (Page No. - 187) 14.1 INTRODUCTION 14.2 IMPACT OF COVID-19 ON PLAYERS OF WEARABLE TECHNOLOGY MARKET (Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))* 14.3 KEY PLAYERS 14.3.1 APPLE INC. FIGURE 38 APPLE INC.: COMPANY SNAPSHOT 14.3.2 XIAOMI CORPORATION FIGURE 39 XIAOMI: COMPANY SNAPSHOT 14.3.3 SAMSUNG ELECTRONICS CO., LTD. FIGURE 40 SAMSUNG ELECTRONICS CO., LTD.: COMPANY SNAPSHOT 14.3.4 FITBIT, INC. FIGURE 41 FITBIT, INC.: COMPANY SNAPSHOT 14.3.5 GARMIN LTD. FIGURE 42 GARMIN: COMPANY SNAPSHOT 14.3.6 GOOGLE LLC FIGURE 43 GOOGLE LLC: COMPANY SNAPSHOT 14.3.7 MICROSOFT FIGURE 44 MICROSOFT: COMPANY SNAPSHOT 14.3.8 SONY FIGURE 45 SONY: COMPANY SNAPSHOT 14.3.9 LG FIGURE 46 LG: COMPANY SNAPSHOT 14.3.10 HUAWEI TECHNOLOGIES 14.4 OTHER KEY PLAYERS 14.4.1 INTELLITIX 14.4.2 NYMI 14.4.3 MCLEAR LTD. 14.4.4 JAKCOM TECHNOLOGY CO. 14.4.5 TOKEN 14.4.6 INFINEON TECHNOLOGIES AG 14.4.7 QUALCOMM TECHNOLOGIES, INC. 14.4.8 ADIDAS GROUP 14.4.9 MISFIT, INC. 14.4.10 GUANGDONG BBK ELECTRONICS CO., LTD 14.4.11 LIFESENSE GROUP B.V. 14.4.12 DYNABOOK AMERICAS, INC. 14.4.13 OPTINVENT 14.4.14 SEIKO EPSON 14.4.15 VUZIX 15 APPENDIX (Page No. - 234) 15.1 INSIGHTS OF WEARABLE TECHNOLOGY INDUSTRY EXPERTS 15.2 DISCUSSION GUIDE 15.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 15.4 AVAILABLE CUSTOMIZATIONS 15.5 RELATED REPORTS 15.6 AUTHOR DETAILS The study involved four major activities in estimating the size of the wearable technology market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments. Secondary ResearchThe secondary sources referred to for this research study includes TechCrunch News, OLED Wearable technology, Fraunhofer Data, and Photonics Articles. In the wearable technology market report, both top-down and bottom-up approaches have been used to estimate and validate the size of the wearable technology market, along with other dependent submarkets. The key players in the wearable technology market have been identified through secondary research, and their market presence has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources. Primary ResearchExtensive primary research has been conducted after acquiring an understanding of the wearable technology market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (consumers, industries, healthcare) and supply-side (wearable technology product manufacturers) players across four major regions, namely, Americas, Europe, Asia Pacific, and Rest of the World (the Middle East & Africa). Approximately 70% and 30% of primary interviews have been conducted from the supply and demand side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, various departments within organizations, such as sales, operations, and administration, were covered to provide a holistic viewpoint in our report. After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.  Market Size EstimationBoth top-down and bottom-up approaches have been used to estimate and validate the total size of the wearable technology market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:
 Data TriangulationAfter arriving at the overall market size—using the market size estimation processes explained above—the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The main objectives of this study are as follows:
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We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.  Instant Answers with GPT - Ask Now!Request more details. By clicking the "Submit" button, you are agreeing to the Terms of Use and Privacy Policy. Growth opportunities and latent adjacency in Wearable Technology MarketWanted to know the Potential for growth in wearable tech (Apple watch, Fitbit) in US or UK market. Interested in South Africa specific Wearable Technology Market information To find out about wearables linked to occupational safety and health. Get recent trends delivered to your inboxOvertake your competition with ease.
 Markets and Markets research pvt ltd. (Apr, 2021 ). Wearable Technology Market Size, Share & Industry Trends Growth Analysis Report by Product (Wristwear, Headwear, Footwear, Fashion & Jewelry, Bodywear), Type (Smart Textile, Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise & Industrial), and Geography - Global Growth Driver and Industry Forecast MarketsandMarkets. Retrieved Sep 9, 2024 , from https://www.marketsandmarkets.com/Market-Reports/wearable-electronics-market-983.html Get Embed Code Please enter your contact details it will help our analyst to reach out to you. [email protected] | USA 1-888-600-6441   Wearable Technology Market Size, Share & Trends Analysis Report By Product (Wrist-Wear, Eyewear and Headwear, Footwear, Neckwear, Body-Wear, Others), By Application (Consumer Electronics, Healthcare, Enterprise and Industrial Applications, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031 Market DynamicsRegional analysis.
Segmental Analysis
Download Free SampleMarket overview. The global Wearable Technology Market size was valued at USD 60.85 billion in 2022 . It is estimated to reach USD 190.21 billion by 2031 , growing at a CAGR of 13.5% during the forecast period (2023–2031). The factors driving the wearable technology market growth during the projected period include increasing growth prospects of next-generation displays in wearable devices, increasing demand for IoT devices, and growing need for smart devices in healthcare applications. Wearable technology, often known as wearables, is a type of electronic gadget and accessory that may be worn on the body. These gadgets are intended to collect data, offer information, and improve the user experience in various categories, such as health and fitness, communication, entertainment, and productivity. Wearable technology has grown in popularity in recent years due to its potential to provide convenience and functionality in a small, portable package. Consumer adoption of smart wearable technology items is propelling industry growth. These gadgets aid in health monitoring by using sensors to check cholesterol levels, calories burned, oxygen levels, etc. In addition, Fitbit, Samsung, Noise, and Fossil Group, Inc. are introducing wearable technology watches and other accessories with health-tracking solutions. Such a feature is expected to appeal to customers because it allows them to monitor their health, paving the door for a significant wearable technology market share.  Global Wearable Technology Market Drivers:Health and fitness awareness. Wearable technology has benefited greatly from increased awareness of personal health and wellness. Wearables have evolved into valuable tools for individuals seeking to monitor their health, measure their fitness progress, and play a more active role in their well-being. According to an IDC analysis, the wearables market is expected to increase significantly in 2020, led by the desire for health and fitness tracking during the COVID-19 pandemic. In 2020, the market rose by 27.2% yearly, with shipments totaling 153.5 million units. This expansion was ascribed to a greater emphasis on health and wellness. In addition, wearables have evolved from recording fitness metrics to giving useful health data. Users can receive early alerts about potential health risks, allowing them to take precautionary measures and seek medical care as soon as possible. According to a 2019 study published in JAMA Cardiology, the Apple Watch's capacity to detect irregular cardiac rhythms showed promise in detecting atrial fibrillation, which can lead to strokes and other issues. The study emphasized the value of wearable technology in preventative healthcare. The growing awareness of health and fitness and the increased emphasis on preventative healthcare have influenced the wearable technology market trend. These gadgets have evolved to offer users useful health data, tailored insights, and the capacity to be proactive about their health. Global Wearable Technology Market Restraints:Privacy and security concerns. Wearables' personal health and biometric data collection has prompted privacy and security issues. Users are concerned about how manufacturers and third parties store, transfer, and use their data. According to a PwC survey, 88% of consumers are concerned about the security of wearable data, while 87% are concerned about data privacy. These concerns have resulted in regulatory measures such as Europe's General Data Protection Regulation (GDPR), which addresses data privacy concerns. Furthermore, wearables that capture sensitive health data, such as heart rate and sleep habits, have been investigated for data security. Health data breaches have occurred, raising worries about the security of personal health information. In the United States, the Health Insurance Portability and Accountability Act (HIPAA) and equivalent rules worldwide mandate strong data protection for health-related information. This emphasizes the significance of privacy in the wearable health tech sector. Manufacturers must invest in safe designs, transparent data policies, and user education to alleviate these worries and demonstrate their dedication to user privacy and data protection. Global Wearable Technology Market Opportunity:Integration of augmented reality and virtual reality. AR smart glasses are becoming more popular in the industrial and manufacturing sectors. Workers may access real-time information, schematics, and instructions while keeping their hands free by wearing these devices. In the aviation business, for example, technicians can utilize AR glasses to see maintenance instructions and conduct repairs more efficiently. In addition, the game sector is seeing increased demand for VR headsets. VR is utilized in gaming arcades, home gaming consoles, and virtual reality theme parks to create immersive gaming experiences. Popular products include the Oculus Rift and PlayStation VR. Furthermore, VR headsets allow users to experience virtual travel locations, museums, and historical places without leaving their homes. This has grown in popularity, particularly during travel restrictions and lockdowns. The epidemic of COVID-19 heightened interest in virtual tourism. Virtual tours of prominent landmarks and travel locations were available from companies such as Oculus. Such initiatives' success demonstrates virtual reality's potential in the tourism and exploration sectors.
 North America Dominates the Global MarketThe global wearable technology market analysis is conducted in north america, europe, asia-pacific, the middle east and africa, and latin america.. North America is the most significant global Wearable Technology market shareholder and is estimated to grow at a CAGR of 4% over the forecast period. High technological usage and the ease with which freshly released things can be obtained have been significant growth factors for the regional market. Devices that improve health, ease preventive treatment, and aid in managing chronic illnesses are in high demand in the region. Wearable medical technology is used by 30% of Americans, according to the National Library of Medicine. In addition, the increased spending of numerous sports associations to reduce the potential of any preventable accidents to highly paid professional athletes is predicted to propel the region's wearables growth. For example, the Golden State Warriors are working with smart apparel startup Athos to employ these goods for injury prevention and player performance. This investment represents only a small portion of the athletics sector's involvement in the smart clothes business landscape in the United States. Aside from the United States, Canada is seeing increased demand for wearables. The country is expected to spend and pay adequately for its military initiatives (including clothes). Bell holds several patents in the United States and Canada that outline a complete vision for how its wearable technology could be utilized by people trying to monitor sick loved ones and institutions looking to track big populations. The Asia-Pacific region is expected to increase fastest during the projected period. Due to increased suppliers offering competitive products, China will likely be one of the most important countries in the Asia-Pacific regional market. The decreased costs of smartphones, predicted to fall further shortly, are also expected to stimulate demand for wearable technology in the country. Increased demand from diverse target client groups allows manufacturers to lower product prices while boosting production volumes. The European market is expected to rise significantly during the forecast period. Because the region has a large aging population, there is a growing interest in wearable gadgets that can help with aged care, remote patient monitoring, fall detection, and other healthcare applications. European governments have aggressively supported digital health projects, such as wearable technology, to enhance healthcare outcomes and lower healthcare costs. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports The global wearable technology market is segmented based on product, application, and region.The global wearable technology market is further segmented by Product into Wristwear, Eyewear and headwear, Footwear, Neckwear, and Bodywear. Wrist-wear holds the major market share. Wrist-wear devices, like traditional timepieces, are intended to be worn on the wrist. Smartwatches and fitness trackers are common examples. Several smartwatch and fitness tracker makers target users such as athletes, adventure seekers, and sports fans to improve product sales. By providing information on calorie intake, hydration intervals, and step monitoring, these gadgets give fitness-related metrics and encourage a healthy lifestyle.
Wearables for the eyes and head are devices that are worn on the head or around the eyes. Augmented reality (AR) glasses and virtual reality (VR) headsets are frequently used. The increasing use of Virtual Reality and Augmented Reality (VR and AR) headsets in the multimedia and healthcare industries and the growing popularity of smart headgear are expected to drive the expansion of this market. Furthermore, the growing popularity of smart caps due to their data-driven insights and tracking technologies is expected to drive category growth. The global wearable technology market can be bifurcated by application into Consumer electronics, healthcare, and enterprise/industrial applications. Consumer electronics influenced the market growth.
Consumer electronics wearables are largely intended for individual users. These technologies are frequently concerned with lifestyle, entertainment, and personal convenience. The significant share of this sector can be attributed to a growth in the use of wearable technologies, such as fitness bands and AR/VR headsets. Many firms, like Garmin Ltd., Omron, Apple Inc., and Nemaura, focus on developing data-delivery devices that include clinical and non-clinical information. Healthcare wearables are devices intended to monitor, track, and enhance various aspects of a person's health and well-being. They are frequently employed in preventative medicine and remote patient monitoring. Market Size By Product List of key players in Wearable Technology Market
Wearable Technology Market Share of Key Players Recent Developments
Wearable Technology Market SegmentationsBy product (2019-2031), by application (2019-2031).
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Wearable Technology Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Japan, Canada, Germany - Size and Forecast 2024-2028
Enjoy complimentary customisation on priority with our Enterprise License! Wearable Technology Market Size 2024-2028The wearable technology market size is estimated to grow at a CAGR of 17.28% between 2023 and 2028. The growth of the wearable technology market hinges on various factors, including the popularity of wearable devices for payment, the increasing digitization of the global economy, and advancements in miniaturized electronic components. These devices, serving as convenient payment methods, are becoming increasingly sought-after by consumers. Moreover, as the global economy continues its digital transformation, the demand for wearable technology is expected to surge. Additionally, ongoing developments in miniaturization techniques for electronic components are enabling the creation of smaller, more efficient wearable devices, further fueling market expansion. What will be the Size of the Market During the Forecast Period? For More Highlights About this Report , Download Free Sample in a Minute Market Dynamics and Customer LandscapeThe market is driven by the diverse needs of swimmers , cyclists, runners, and gym-goers seeking enhanced performance and health monitoring solutions. Trends include the rise of smart clothing and IoT-based apparel, integrating features like MEMS sensors and GPS for precise tracking. However, challenges such as counterfeit products and consumerism pose threats to market integrity. Additionally, ensuring health self-efficacy and addressing privacy concerns regarding clinical data remain critical challenges for manufacturers and developers in this dynamic and evolving industry. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage. Key Market DriverThe growing digitization of the global economy is the key driver for the growth of the market. Emerging economies in regions such as APAC and MEA are seeing a significant increase in digitalization, due to increasing internet penetration rates, and a growing mobile subscriber base. The number of IoT devices is increasing and a number of smart city projects are underway. With the increasing integration of advanced gadgets, such as contactless payments, AI, and virtual reality , into electronic devices, the use of electronic devices is expected to increase. Furthermore, the growth of the mobile application ecosystem has increased the preference for portable and electronic devices. As the market is witnessing an increase in the number of wearable-compatible applications, the adoption of technology devices is expected to increase, thus driving the growth of the wearables market during the forecast period. Significant Market TrendsThe increasing number of strategic partnerships and M&A activities is the primary trend in the market. The market is still in its infancy. Market players form strategic partnerships with market participants and acquire other companies that provide technology. These partnerships and M&A enable suppliers to develop innovative products by leveraging the technology and technical expertise of market participants. Moreover, such activities lead to the development of an ecosystem, which will increase the adoption of wearable technology. For instance, in January 2021, Alphabet Inc. (Google) acquired certain smartwatch technology intellectual property from Fossil Group Inc. for USD 40 million . The growing number of partnerships and M&A activities among market participants is expected to fuel the market growth and trends during the forecast period. Major Market ChallengesUnattractive designs of devices are the challenge that affects the growth of the market. Electronics reflect the fashion style of the user. Several electronics manufacturers focus on technology rather than device design. The trend of integrating multiple electronic devices into portable electronic devices to add more functions leads to design limitations. Factors such as weight, thickness, battery life, performance, corrective lenses, eye position, and connectivity are all considered when designing smart glasses. Furthermore, Bluetooth-enabled smart rings are bulkier than NFC-enabled smart rings because they contain more microelectronic modules and need to be paired with a smartphone. Due to the use of a Bluetooth chipset that requires power, these rings must contain batteries, making them even less compact. The unattractive design of some devices, such as smart glasses, could negatively affect the development of technology which will impede the growth of the market during the forecast period. Exculsive Customer LandscapeThe market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.  Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. Xiaomi Communications Co. Ltd.: The company offers products such as Redmi watch 3 active, Xiaomi buds 3, and Xiaomi smart band 7 NFC. The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
In the dynamic landscape of wearable technology, innovations cater to diverse user needs and preferences. athletes , including swimmers, cyclists, runners, and gym-goers, benefit from advanced solutions like smart clothing and fitness-tracking wearables. The integration of IoT-based apparel and health monitoring solutions revolutionizes personal wellness management . However, challenges arise with the proliferation of counterfeit products and concerns regarding consumerism. Cutting-edge features such as MEMS sensors , GPS, and IMU enhance functionality, empowering users to monitor performance and health metrics . From electronic displays to head-mounted displays, wearable tech seamlessly integrates with mobile phones to provide real-time data and insights, bridging the gap between patients and clinical data. The wrist-wear segment is estimated to witness significant growth during the forecast period. Wrist-wear devices include smartwatches and smart bands. A smartwatch is a digital device that provides many features, such as making calls and sending messages, health monitoring by tracking steps taken, calories burned, and heart rate, and tracking sleep patterns. It provides customers with quick access to a variety of applications on their smartphones.  Get a glance at the market contribution of various segments Download the PDF Sample The wrist-wear segment was the largest segment and was valued at USD 11.60 billion in 2018. A smart band is a wearable device that can be used to monitor a user's fitness, heart rate, sleep statistics, and calorie control in real-time, as well as provide health information. These bands contain miniature electronic components, such as microchips and sensors, that collect information, record activity, and transmit and transform that information in real-time. Consumer awareness of health and fitness is increasing demand for smart wearables. Thus, such applications of smart bands and smartwatches will fuel the growth of the segment and the market during the forecast period.
 For more insights on the market share of various regions Download PDF Sample now! North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Increasing consumer adoption of new technologies is driving market growth in the region. The presence of some of the biggest crowdfunding platforms, such as Kickstarter and Indiegogo, helps startups raise funds to develop innovative wearables in the region. Furthermore, the region is home to several local and international players offering wearable devices. Apple, Fitbit, Microsoft, Google, and Vuzix are some of the major wearable electronics players operating in the North American market. The region benefits from the sale of products made available to US customers for the first time. End users, such as consumers and businesses, are always eager to try new technologies. Therefore, the market in North America is expected to experience a high growth rate during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Market Analyst OverviewIn the expansive realm of wearable technology, diverse innovations cater to a wide range of users, from adventure lovers to sports enthusiasts. Augmented Reality (AR) intersects with the multimedia industry, enhancing experiences through AR/VR headsets and smart hats. Companies like Spree Wearables offer cutting-edge fitness bands for health-conscious consumers. In the healthcare sector, IoT-enabled garments and telehealth solutions empower healthcare providers and patients alike, enabling real-time monitoring and intervention for chronic diseases like cardiovascular disease and obesity. From smart fabrics with small sensors to wristbands and ear-wearables, the market thrives on technological innovativeness , although concerns persist regarding data security and technological literacy.
Download PDF Sample What are the Key Data Covered in this Market Research Report?
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Frequently Asked Questions?How big is the wearable technology market market , what is the wearable technology market market growth, which segment accounted for the largest wearable technology market market share , who are the key players in the wearable technology market market , what are the factors driving the wearable technology market market .
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Wearable Devices Market InsightsUpdated: 4 June 2024 Worldwide Shipments of Wearable Devices Grew 8.8% Year Over Year in Q1 2024 While Average Selling Prices Continue to Decline.The wearables market began 2024 with a growth spurt as global shipments of wearable devices grew 8.8% year over year in the first quarter (1Q24) to 113.1 million units. Despite the shipment growth, average selling prices (ASPs) declined for the fifth quarter in a row, dropping 11% in 1Q24 as emerging markets gained traction and as the economy put downward pressure on consumer spending. "The lack of major innovation in the premium segment has allowed tier-2 brands to narrow the gap across the board," said Jitesh Ubrani , research manager, Worldwide Mobile Device Trackers. "Until we get to a point where new sensors or algorithms enable prescriptive insights or the tracking of new datapoints such as blood pressure or glucose, consumers will likely gravitate towards the mid to value price points and this is where brands have continued to invest by diversifying their pricing ladders." "It's important to pay close attention to smaller, regional vendors," said Ramon T. Llamas , research director with IDC's Wearables team. "The appetite for wearables is not lost on emerging markets, but higher prices on wearables from premium brands make them cost prohibitive for many. That has opened the door for local brands to introduce low-cost yet feature-laden devices to meet this unsatiated demand. That's how companies like Xiaomi and Imagine Marketing have established positions among the top vendors worldwide." Company HighlightsApple maintained the top position although it was held back by poor macroeconomic conditions, a temporary ban on certain watch models, and the lack of newer AirPods. Overall, Apple Watch shipments declined 19.1% year over year while hearables including AirPods and Beats declined 18.8% during the quarter. Xiaomi ranked second with 43.4% year over year growth thanks to an easy comparison over a 16% decline in the first quarter of 2023. The company's value-oriented products resonated with users and the recent re-entry into Wear OS watches has helped the company become the third largest vendor within the Google ecosystem and grow its overall smartwatch average selling prices. Huawei captured the third spot, surpassing Samsung, thanks to the return of its smartphone business, which had a positive impact on wearables due to bundling. However, the company's sales are heavily concentrated in China with about three quarters coming from the region. Samsung slipped into fourth place. The launch of the Galaxy Fit 3 as well as success with lower-priced hearables helped the company achieve market beating growth although its core smartwatch volume declined 5.1% during the quarter. Imagine Marketing (boAt) rounded out the top five. The Indian brand known for its extreme value-oriented products managed to grow its hearables volume by 17.5% but its smartwatches saw a tremendous decline of 61.3% due to extreme competition within the home country. Worldwide Wearables Forecast by Product
Top 5 Wearable Device Companies
Interested in Other Devices?Related news. Global Wrist-Worn Device Market Ships Almost 44 Million Units in 2Q 2024, Led by China’s 10.9% YoY Growth Sep-24 Worldwide Shipments of Wearable Devices Grew 8.8% Year Over Year in Q1 2024 While Average Selling Prices Continue to Decline, According to IDC Jun-24 Global Shipments of Wearable Devices Saw Modest Growth in 2023 with Improved Demand Expected in 2024 and Beyond, According to IDC Mar-24 Wearable Devices
Research Manager, Worldwide Device Trackers Research Director, Mobile Devices and AR/VR Group Vice President, Worldwide Device Trackers Interested in another Market Area?
Global Wearable Technology Market Size, Share, Trends, & Growth Forecast Report - Segmented By Product (Wrist Wear, Headwear/Eyewear, Footwear, Neckwear and Bodywear), Type (Smart Textile and Non-Textile), Application (Consumer Electronics, Healthcare, Enterprise and Industrial) and Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Analysis from 2024 to 2029
Global Wearable Technology Market Size (2024 to 2029)The global wearable technology market is anticipated to be worth USD 71.68 billion by 2029 from USD 33.25 billion in 2024, growing at a CAGR of 16.61% from 2024 to 2029.  Current Scenario of the MarketCurrently, the wearable technology market is witnessing the introduction of several innovative products disrupting the industry dynamics. It has changed the way we communicate with the digital world and check our health. Smartwatches, fitness trackers, wireless earbuds, and smart rings are highly popular in the market and have become an integral component of our routine lives. Moreover, the market also saw wearable products fitted out with sensors that can monitor huge amounts of important signs like oxygen saturation, blood pressure, and heart rate and even identify abnormalities in its beating. These features have made wearable technology more popular among Generation X and Generation Z customers. MARKET DRIVERSThe rising health issues and the desire for a healthy lifestyle are some of the factors driving the global wearable technology market growth.. The space between patients and doctors or hospitals is filled by digital health technologies through telehealth services and online consultations. It helps medical professionals in analyzing patient situations and developing a precise treatment plan since it gives them access to real-time, current blood pressure, oxygen saturation, heart rate and blood sugar. Furthermore, wearable medical devices also perform remote monitoring of patients which lowers healthcare expenditure and hospital readmissions. Technological advancements in sensor technology and miniaturization have provided the development of comfortable, lightweight and smaller devices. As a result, Consumer adoption and acceptability have grown greatly. Additionally, advancements such as battery life and 5G connectivity are transforming wearable devices into more powerful, versatile and user-friendly devices. The growing advances in immersive reality technology are also propelling the global wearable technology market. Augmented reality and virtual reality provide immersive digital experiences, interactive environments, simulation and engagement have completely changed learning techniques. However, these are in the emerging stage and will need some time, personalization and investment to meet the huge demand in education. Growing technical developments present an excellent opportunity for the expansion of the global wearable technology market. The innovative advances in the fashion industry are contributing to market growth. Manufacturers have allowed the introduction of smart clothing, with major effects on the medical field, by incorporating state-of-the-art electronics into clothing. Furthermore, huge investments are made by established brands such as Nike and Adidas to create T-shirts with sensors to track heart rate, calories burned and other health-related metrics. The area of lower visibility of wearable devices also presents potential prospects for market expansion. Gadgets can look more like jewelry or clothes than like a fitness band or clip-on monitor. They could further be covered up from view by taking the shape of a strap or patch. MARKET RESTRAINTSThe limited functionality of budget and basic devices is affecting the expansion of the global wearable technology market and may drift away the interest of tech-savvy customers in this technology. Also, the largest issue is that wearable typically has screens that are far smaller than those of smartphones. An app's user satisfaction is unlikely to be perfect and most users may never be completely satisfied with its appearance and functionality. Additionally, the lack of regular updates is another factor hindering market growth. In today’s connected devices world, the absence of multi-platform support is affecting the demand for wearable technology. MARKET OPPORTUNITIESNext-generation materials are expected to significantly boost the growth of the wearable technology market. The revolutionary developments in materials science target to transform the thinking and application of wearable devices, providing new heights of user comfort, integration, and functionality. A promising advancement is the rise of transient electronic systems, which can disintegrate, dissolve, or else disappear at controlled speeds after completing their purpose. These devices, especially bioresorbable electronics, are developed and engineered to be incorporated into the human body, enabling therapeutic and sensing characteristics in accordance with natural biological procedures. Simultaneously, gallium-based liquid metals (LM) are making space for conformal bioelectronic devices. So, this presents a huge opportunity for the wearable technology market. MARKET CHALLENGESSecurity and privacy concerns relating to the gathering and storage of customer’s sensitive health data continue to be the major challenge for the wearable technology market. The lack of strong security measures and legal frameworks by several governments around the world to safeguard people’s autonomy and confidentiality is the primary reason behind this problem. Navigating through the rising different and complex regulations and legislation is tough and sometimes time-consuming which derails the growth trajectory of this market. For instance, European laws are different from the US regulations. REPORT COVERAGE
SEGMENTAL ANALYSISGlobal wearable technology market analysis by type. Based on type, the wearable non-textile segment dominated the market and accounted for the major share of the global wearable technology market in 2023 and the domination of the segment is expected to continue throughout the forecast period owing to the growing demand for health monitoring equipment to improve welfare and assist in the management of chronic diseases. Further expansion into healthcare, sports and business sectors is expected because of continuous advancements and a growing emphasis on personalization. Moreover, the seamless integration with various devices including smartphones and smart homes enhances functionality and provides convenience which is boosting the segment growth. Global Wearable Technology Market Analysis By ProductBased on product, the wristwear segment had 48.7% of the global market share in 2023 and is expected to register prominent growth during the forecast period. To boost their product sales many smartwatch and fitness tracker companies specifically targeted athletes, adventure seekers and sports enthusiasts which is the key factor propelling the segmental growth. These gadgets offer indicators linked to fitness and promote a healthy way of living by giving details on calorie consumption, water breaks and step counting. On the other hand, the headwear/eyewear segment stood at the second position in the category due to the growing use of smart headwear and virtual reality and augmented reality headsets in the multimedia and healthcare sectors. Global Wearable Technology Market Analysis By ApplicationBased on application, the consumer electronics segment is estimated to account for the major share of the global wearable technology market during the forecast period and the growth of the consumer electronics segment can be attributed to the rising adoption of wearable technologies such as fitness bands and AR/VR headsets. Products that give customers easy access to health information are in demand because of the evolving lifestyle of consumers. Fit and wellness applications have become more common owing to wearable technology. This covers smart clothing, smart health watches, smartwatch phones and others. REGIONAL ANALYSISAsia Pacific is rapidly growing at a higher CAGR and presents diverse regional dynamics. The quantity and diversity of the user base attract wearable technology companies. Its strong focus on wellness and fitness has increased the demand for heartbeat-monitoring wearables, smartwatches , fitness trackers and others for keeping track of sleeping patterns, physical activity, etc. Moreover, the rising number of manufacturers to assist in the market expansion during the anticipated duration. Furthermore, In the first half of 2023, more than 57 million wearables were shipped to India which saw the market grow by over 53 percent year over year basis. North America is the biggest market having a significant share and is expected to continue this trend in the forecast period. The demand for more powerful and sophisticated wearable technologies is growing as smart devices become further advanced. The high disposable income along with the rapid adoption and recognition of new technology are a few key drivers of the regional market. Furthermore, the region is home to major wearable companies including Apple, Fitbit and Garmin who are prime contributors to the market growth. However, the market has reached its maturity which is slowing down the regional growth rate. The European wearable technology market is propelling forward at a consistent pace which is moving towards niche applications and specific segments. Key players including Google, Apple, Samsung, Withings, Qualcomm and Microsoft have made strategic investments in the health and fitness industry from which wearable technology is already experiencing significant market penetration. It is projected that more than 28 billion euros will be utilized for formulations and intermediate materials in the wearables supply chain by 2025 indicating its high level of dynamic activity. Additionally, AI and VR technological advancements will boost the demand for smart glasses and this will be extremely beneficial to Germany's wearable electronics sector. Latin America's wearable technology market is in the emerging phase with promising prospects for the future. The high smartphone adoption rates in the region is driving the development of wearables powered by apps and seamless connectivity. The growing emphasis on health and wellness is increasing the widespread use of fitness trackers and health monitoring devices. Moreover, Government programs were implemented in Brazil and Mexico to promote wearable technology innovation and use. Middle East and Africa saw considerable growth in terms of both unit and value in 2022. The Shipments to the region in 2022 increased 9.8% year over year (YoY) to more than 14 million units. The market's value increased by 25 percent to 2.86 billion dollars. In 2022, earwear device shipments increased by 13 percent YoY which accounted for half of total wearable shipments. Apple and Samsung held an overall share of almost 40 percent in the earwear segment with Apple ranking first and Samsung ranking second. Third place went to the Chinese seller Xiaomi. KEY MARKET PLAYERS IN THE GLOBAL WEARABLE TECHNOLOGY MARKETCompanies playing a notable role in the global wearable technology market include Fitbit, Inc. (U.S.), Apple, Inc.(U.S.), Xiaomi Technology Co. Ltd. (China), Garmin Ltd. (U.S.), Samsung Electronics Co., Ltd.(South Korea), Guangdong BBK Electronics Co., Ltd (China), Misfit, Inc. (U.S.), Alphabet, Inc. (U.S.), LG Electronics Inc.(South Korea), Qualcomm Technologies, Inc. (U.S.), Adidas Group (Germany), Sony Corporation (Japan), Jawbone, Inc. (U.S.), Lifesense Group (The Netherlands), and others. RECENT HAPPENINGS IN THE GLOBAL WEARABLE TECHNOLOGY MARKET
DETAILED SEGMENTATION OF THE GLOBAL WEARABLE TECHNOLOGY MARKET INCLUDED IN THIS REPORTThis research report on the global wearable technology market has been segmented and sub-segmented based on type, product, application and region..
By Application
When I submit this form, I am consenting to Market Data Forecast Privacy Policy . Please wait. . . . Your request is being processed Frequently Asked Questions What are the main segments of the wearable technology market? +The main segments of the wearable technology market include smartwatches, fitness trackers, wearable cameras, smart clothing, and hearables. Smartwatches and fitness trackers dominate the market, with significant contributions from smart clothing and hearables. What are the key drivers for the growth of the wearable technology market? +Key drivers include rising health consciousness among consumers, advancements in wearable technology such as improved sensors and connectivity, growing adoption of smartphones, and increased investments in research and development by key market players. What innovations are currently emerging in the wearable technology market? +Innovations include the development of smart textiles and fabrics, augmented reality (AR) glasses, wearable medical devices for chronic disease management, and integration of artificial intelligence (AI) for predictive health analytics. Advancements in battery technology and miniaturization of components are also notable trends. What is the future outlook for the wearable technology market? +The future outlook for the wearable technology market is positive, with expectations of continuous growth driven by technological advancements, increasing consumer awareness of health and fitness, and expanding applications in healthcare and other industries. The integration of wearables with other smart devices and the Internet of Things (IoT) will further enhance their functionality and market penetration. Related Reports Wearable Medical Devices Market Download Sample Wearable Devices in Sports Market Access the study in MULTIPLE FORMATS Purchase options starting from $ 1800 Didn’t find what you’re looking for? TALK TO OUR ANALYST TEAM Need something within your budget? NO WORRIES! WE GOT YOU COVERED! Call us on: +1 888 702 9696 (U.S Toll Free) Write to us: [email protected] Research AreasReports By Region
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Wearable Technology Industry Overview The global wearable technology market size was USD 61.30 Billion in 2022 and is expected to register a rapid revenue CAGR of 14.4% during the forecast period. Increasing popularity of Internet of Things (IoT) and connected devices and device miniaturization for wearable devices, rising demand for wearable devices for tracking and monitoring health vitals, and rapid advancements made in sensors are major factors driving market revenue growth. Wearable devices enable a user to check health-related content and other data as well. Obesity has become a major issue in many regions and therefore, people prefer wearable technology for checking health and fitness data. Rapid expansion of smartphones and mobile networks have contributed to the increasing popularity of wearable technology. Manufacturers of wearable technology have been introducing new features, such as integration of biometric sensors, which have attracted a lot of customers and therefore driving market revenue growth. Wearable Technology Market DriversInternet of Things (IoT), which enables wired or wireless connections to any objects on a network, is transforming business by opening up new revenue streams, enhancing consumer interactions, and improving operational efficiency. Machine-to-Machine (M2M) technologies, which are used by instrumentation makers, transportation firms, and smart buildings, automate communication between mechanical or electronic systems. Consumers are now becoming aware of various wearable Internet of Things (IoT) gadgets, including fitness bands, smart watches, smart glasses, etc. In the recent years, wearable technology has evolved significantly and entered new markets, enabling people to improve their daily lives. In addition, increasing popularity of IoT and connected devices is expected to drive revenue growth of the market. However, widespread availability of counterfeit products and limited capacity of batteries are major factors hampering revenue growth of the market. Smartwatches that are counterfeited often have same appearance and features as popular and branded smartwatches and are sometimes manufactured with substandard materials. Since counterfeit smartwatches are frequently sold at a large discount compared to real smartwatches, they are often purchased by customers looking for budget friendly products. This is another factor restraining revenue growth of the market. Wearable Technology Market Segment InsightsWearable technology product insights:. Based on product, the global wearable technology market is segmented wristwear, headwear, footwear, bodywear, and others. Dominance of Wristwear Segment:The wristwear segment is expected to account for largest revenue share over the forecast period. Wristwear include devices, such as smartwatches, fitness trackers, and others. In recent times smartwatches are embedded with a numerous sensors and heterogeneous wireless protocols, that make them suitable for a range of Social Internet of Things (SIoT) applications. These applications entail using IoT cloud to relay sensor data from millions of watches. Current watches have processors that are strong enough to execute deep learning algorithms and may enable peak download data rates. Wristwear devices, such as smartwatches and fitness trackers, enables applications including continuous wireless monitoring of critical health indicators such as arterial Oxygen Saturation (SpO2) and heart rate. These sensing devices often have limited calculation and processing power; therefore, data processing is typically handled by a separate processing unit. For instance, Apple Watch can track important information, such as sleep pattern, heartbeat rate, and medication logs, and can also track menstrual cycles. These features have led to increasing sales of such products, which is driving revenue growth of the market. Wearable Technology Insights:Based on technology, the global wearable technology market is segmented into computing technology, display technology, network technology, sensor technology, and others. Dominance of Sensor Technology Segment:The sensor technology segment accounted for largest revenue share in 2022 . Wearable sensors are embedded in devices, such as smartwatches, fitness trackers, and others, that combine smartphone connectivity with usual features of Point-of-Care (PoC) systems in modules that are independent and self-contained. Such devices enable non-invasive or minimally invasive continuous monitoring of a person's biometrics, allowing the detection of minute physiological changes over time relative to baseline readings. These factors are driving revenue growth in this segment over the forecast period. Wearable Technology Application Insights: Based on application, the global wearable technology market is segmented into consumer electronics, healthcare, and enterprise & industrial. Dominance of Healthcare Segment:The healthcare segment is expected to register fastest revenue growth rate over the forecast period. Wearable technology has a wide range of uses in healthcare, from neurocognitive illnesses such as Alzheimer's disease, Parkinson's disease, and physiological ailments including hypertension, Cardiovascular Diseases (CVD), and even muscle problems. For improved care of patients with chronic illnesses, such as cardiovascular diseases, diabetes, and neurological problems, continuous and real-time monitoring is crucial, which can be provided by wearable devices. Digital wellness wearables can help in timely referral of patients to outpatient or inpatient settings for preventive treatment or prompt intervention before the condition becomes difficult to control. Furthermore, patients may be better able to participate in self-care and healthcare ecosystem with the help of wearables, which is expected to rise demand for wearable technology and hence drive revenue growth of this segment. Wearable Technology Regional Insights: Wearable Technology North America MarketNorth America accounted for a relatively larger revenue share in 2022. This is due to presence of major market players, such as Apple Inc. and Fitbit (Google), in countries including the U.S and Canada , which has led to increasing availability of a wide variety of wearable devices at a competitive price. This has led to increasing number of investments for research & Development (R&D) by companies to develop better products and increase their product portfolio to attract more customers. In addition, market revenue growth is also driven by launch of new and innovative products as well as rising interest in adopting wearable technology to enhance fitness and health. Moreover, customers in the U.S are rapidly adopting smartwatches, smart glasses, fitness trackers, and other such devices for healthcare purposes. According to National Library of Medicine, in the U.S approximately 30% adults use wearable healthcare devices, and this share is expected to increase significantly over the forecast period, which is expected to drive market revenue growth over the forecast period. Wearable Technology Asia Pacific marketAsia Pacific is expected to register fastest revenue growth rate over the forecast period. This is due to rising prevalence of chronic diseases along with increasing aging population, which is expected to rise demand for continuous and real-time monitoring of health vitals using wearable devices. According to a report released by Ministry of Health in India, around 75 million people in India suffer from chronic diseases while three fourth of people have been diagnosed with conditions such as chronic heart disease, hypertension, diabetes, and others. Devices with wearable technology can play an important role in monitoring and tracking chronic diseases in long term and assist patients to manage their health conditions. This is expected to rise demand for wearable technology in this region and hence drive revenue growth of the market. Wearable Technology Europe MarketEurope is expected to register steadily fast revenue growth rate over the forecast period. This is due to increasing number of investments for Research & Development (R&D) by countries such as Germany, the Netherlands, and the UK, which is expected to introduce a wide range of products in the market. In addition, increasing penetration of smartphones in countries of this region along with technological advancements made in smartphone battery is expected to drive revenue growth of the market. Wearable Technology Top Companies and Competitive LandscapeThe global wearable technology market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new products. Some major companies included in the Wearable Technology Market report are:
Wearable Technology Latest Industry News
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Wearable Technology Market Segment AnalysisFor the purpose of this report, Emergen Research has segmented the global wearable technology market on the basis of product, technology, application and region: Product Outlook (Revenue, USD Billion; 2019-2032)Technology outlook (revenue, usd billion; 2019-2032).
Application Outlook (Revenue, USD Billion; 2019-2032)
Regional Outlook (Revenue, USD Billion; 2019–2032)
Key questions answered by the reportThe global wearable technology market revenue is expected to register a Compound Annual Growth Rate (CAGR) of 14.4% during the forecast period The global wearable technology market size was USD 61.30 Billion in 2022 Increasing popularity of IoT and connected devices, rising demand for wearable devices for tracking and monitoring health vitals, rapid advancements made in sensors, increase in device miniaturization for wearable devices are some factors driving revenue growth of the global wearable technology market The sensor technology segment was leading the global wearable technology market in terms of technology in 2022 Widespread availability of counterfeit products and limited capacity of batteries are factors, which could hamper revenue growth of the market
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Wearable Technology Market Wearable Technology Market Size, Market Segmentation by Type, By Product, By Technology, By Component, By Offering, By Application and By Region – Global Opportunities, & Industry Forecast, 2020-2027Wearable technology market size, market segmentation by type (wearable products & devices and wearable smart textile), by product (headwear & eyewear, wristwear, neckwear, footwear, bodywear, and other wearable technologies), by technology, by component, by offering (software and services), by application, and by region – global opportunities, industry forecast, 2020-2027. Wearable Technology Market is expected to grow at a USD 313.4 Billion by 2027 and witnessing a 17.8% CAGR during 2020-2027. Introduction of Wearable Technology Market ReportWearable technology is a classification of electronic devices that can be embedded in clothing, worn as accessories, or implanted in the user’s body. The wearables use the sensors to connect with the person and help the users to achieve goals such as staying fit, tracking physical & mental health, and other activities. Several wearable technologies have expanded the access of the users to the information, both in terms of convenience & speed of access and the kind of information which can be accessed. The wearable technology, when operated in a body-centric network system, requires EMC testing to confirm that it can be used for vital signal and transmission without failing or making the other devices to fail.  To have an edge over the competition by knowing the market dynamics and current trends of “Wearable Technology Market,” request for Sample Report here The major factors fuelling the growth of Wearable Technology Market includes increasing penetration of mobile internet services, accelerating disposable income, and integration of smart technologies such as Internet of Things (IoT) with smart devices. According to the Economic Times, Smartwatch Market in India witnessed a growth of 173% during the first quarter of 2022, on the other hand wireless earbuds category exhibited a surge of 66% on-year, which will boost the Wearable Technology Market size in India. Moreover, the growing health consciousness, owing to the rising incidences of obesity, diabetes and high Cholesterol are surging the demand for smart wearables to track and monitor physical health, which is another factor contributing to the market growth. In addition, the growing adoption of smart wearable technologies across different industries such as Defense, Entertainment and Healthcare, and increasing research and development initiatives would accelerate the demand for smart wearable devices in the coming years. However, the growth of Wearable Technology Market is hampered due to limited battery life, rising privacy concerns, and high cost for technology procurement. Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report Based on the product, the Headwear & Eyewear segment is anticipated to grow at a higher CAGR over the forecast period owing to the high adoption of the headwear & eyewear wearables among the consumers. In addition to this, the increasing penetration of virtual reality & augmented reality in various application areas is further fuelling the growth of this segment. Based on the application, the Consumer Electronics segment is expected to increase at a higher compound annual growth rate during the forecast period owing to the rising implementation of wearable technology in consumer electronics. Moreover, the increasing adoption of technologically advanced products such as wearable scanners to enhance efficiency and speed is also a factor driving the market growth of this segment. In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here Based on the region, North America is anticipated to increase at a higher compound annual growth rate during the forecast period owing to the high adoption of wearable devices and the rising demand of the consumers for wearable technology. In addition to this, the large presence of several key players and increasing technological advancements are some other factors propelling the growth of the wearable technology market in this region. Various notable players operating in the market include Apple Inc., Fitbit, Inc., Garmin Ltd., Xiaomi, Alphabet Inc., Samsung, Qualcomm Technologies, Inc., LG Electronics, Adidas AG, and Sony Corporation, among others. Key Developments:
The global wearable technology market has been segmented on the basis of type, product, technology, component, offering, application, and region. Based on the type, the market is segmented into wearable products & devices and wearable smart textile. The wearable smart textile is further categorized by type and function. The type segment is further categorized into active smart textiles, passive smart textiles, and ultra-smart textiles. The function segment is categorized into energy harvesting, sensing, thermoelectricity, luminescence & aesthetics, and others. Based on the product, the market is segmented into headwear & eyewear, wristwear, neckwear, footwear, bodywear, and other wearable technologies. The headwear & eyewear segment is further categorized into virtual reality headsets, augmented reality headsets, and others. The wristwear segment is further categorized into smartwatches and wristbands. The neckwear segment is further categorized into ties & collars and fashion & jewellery. The footwear segment is categorized into casual footwear and special-purpose footwear. The bodywear segment is further categorized into fashion & apparel, inner wear, and armwear & legwear. The other wearable technologies segment is further categorized into bodyworn cameras, ring scanners, and internables/implantable. Based on the technology, the market is segmented into display technology, computing technology, positioning technology, networking technology, and sensor technology. Based on the component, the market is segmented into positioning & networking components, power supply components, control components, sensing components, memory components, display & optoelectronic components, and interface components. Based on the offering, the market is segmented into software and services. Based on the application, the market is segmented into healthcare, consumer electronics, enterprise & industrial application, and other applications. The healthcare segment is further categorized into clinical applications and nonclinical applications. The consumer electronics segment is further categorized into infotainment & multimedia, fitness & sports, garments & fashion, and multifunction. The enterprise & industrial application segment is further categorized into logistics, packaging, & warehouse, and other industrial applications. For detailed scope of the “Wearable Technology Market” report request a Sample Copy of the report Key questions answered in this research report:
Market SegmentationGlobal wearable technology market by type.
Global Wearable Technology Market by Product
Global Wearable Technology Market by Technology
Global Wearable Technology Market by Component
Global Wearable Technology Market by OfferingGlobal wearable technology market by application.
Global Wearable Technology Market by Region
Major Players Operating the Global Wearable Technology (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)
Frequently Asked Question About This ReportWearable technology market [up994a-00-0620], what are key drivers boosting the wearable technology market. The key drivers boosting the growth of the wearable technology market include the accelerating adoption of wearables across several application areas, including consumer applications, defences, and fitness. Which region anticipated to grow at higher CAGR the Wearable Technology Market?North America is anticipated to increase at a higher compound annual growth rate during the forecast period owing to the high adoption of wearable devices and the rising demand of the consumers for wearable technology. Which are the various technologies in Wearable Technology Market?The technologies in Wearable Technology Market are display technology, computing technology, positioning technology, networking technology, and sensor technology. What is the growth rate of Wearable Technology Market during forecast period?The Wearable Technology Market is predicted to grow at a 313.4 Billion by 2027 at a 17.8% CAGR during 2020-2027
Licensing Options Single-User License: The report is used by the purchaser (One Individual) only Multi-User License: Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only Corporate License: Report is shared with unlimited user (employees) of the purchasing corporation only$ 4,499.00 – $ 6,649.00 Global Wearable Electronic Devices Market - Industry Trends and Forecast to 2029
 Global Wearable Electronic Devices MarketMarket Size in USD Billion CAGR : 15.60 %
Global Wearable Electronic Devices Market, By Component (Networking and Positioning Components, Power Supply Components, Sensing Components, Optoelectronic and Display Component, Controls Components, Interface Components), Product (Wrist-Wear, Eye-Wear, Body-Wear, Foot-Wear, Neck Wear, Others), Technology (Display technologies, Computing Technologies, Positioning Technologies, Networking Technologies, Speech Recognition Technology, Sensor Technologies), Application (Healthcare Application, Consumer Application, Industrial Applications, Commercial Applications), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029. Market Analysis and Insights : Global Wearable Electronic Devices MarketData Bridge Market Research analyses the wearable electronic devices market will exhibit a CAGR of 15.60% for the forecast period of 2022-2029. Wearable electronics are smart devices that individuals can wear over their bodies to improve their day-to-day activities. They are integrated computing devices that allow users to access wireless networking and mobile computing. These gadgets can easily and accurately measure the user's sleep quality, vitals, and step count on a continuous basis. These sensors can also monitor physiological data in chronically ill patients, allowing for timely clinical intervention. These items can also be used to detect early signs of a patient's health condition, allowing for appropriate medical intervention. The upsurge in the demand for sophisticated gadgets along with advanced features is a key element driving market expansion. The wearable electronic devices market is also being driven by factors such as rise in the adoption rate of wearable products in new applications and change in the trend of communications as well as network technologies. Furthermore, technological advancements, rise in the number of digital costumers and presence of internet mobility will enhance the growth rate of wearable electronic devices market. Moreover, the increase in the popularity of wearable electronic devices and product innovations will create beneficial opportunities for the growth of the market. However, high cost associated with these devices and data privacy concerns will hamper the market’s growth rate. Also, the dearth of design features will further pose a challenge to the market. This wearable electronic devices market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on wearable electronic devices market contact Data Bridge Market Research for an Analyst Brief , our team will help you take an informed market decision to achieve market growth. Global Wearable Electronic Devices Market Scope and Market SizeThe wearable electronic devices market is segmented on the basis of component, product, technology, and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
Wearable Electronic Devices Market Country Level AnalysisThe wearable electronic devices market is analysed and market size, volume information is provided by country, component, product, technology, and application as referenced above. The countries covered in the wearable electronic devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. North America dominates the wearable electronic devices market and will continue to flourish its trend of dominance due to the presence of major key players and technical innovations associated with these devices. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the growing demand for sophisticated gadgets along with advanced features in this region. The country section of the wearable electronic devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. Competitive Landscape and Global Wearable Electronic Devices Market Share AnalysisThe wearable electronic devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to wearable electronic devices market. Some of the major players operating in the wearable electronic devices market are Apple Inc., ADIDAS AG, AT&T Intellectual Property, Google, Seiko Epson Corporation, Imprint Energy, Inc., GlassUp S.r.l., Nike, Inc., Infineon Technologies AG, Fitbit LLC., Shimmer, Xiaomi, SAMSUNG, LG Electronics, Sony Corporation, Epson America, Inc., Huawei Technologies Co., Ltd., Microsoft, and Garmin Ltd., among others. Get online access to the report on the World's First Market Intelligence Cloud
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 Wearable Technology Market Research Report Information By Product (Wristwear, Headwear & Eyewear, Neckwear, And Wearable Cameras), By Technology (Computing, Display, Networking, And Sensor), By Components (Control, Memory, Battery, Sensing, And Connectivity), By Application (Fitness & Wellness, Consumer Electronics, and Healthcare), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Industry Forecast Till 2032
Global Wearable Technology Market Overview:Wearable Technology Market Size was valued at USD 53.1 Billion in 2023. The Wearable Technology market industry is projected to grow from USD 69.6672 Billion in 2024 to USD 466.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 26.83% during the forecast period (2024-2032). The rising popularity of the Internet of Things (IoT), the increase in obesity and other chronic diseases, and the popularity of smartphones, and mobile applications are the key market drivers enhancing the market growth.  Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Growing demand of the Internet of Things (IoT) is driving the market growthMarket CAGR for wearable technology is driven by the increasing demand of the Internet of Things (IoT) and linked devices. IoT technologies provide cutting-edge tools and repair alternatives that simplify daily life and work. IoT also has a significant impact on a variety of healthcare applications, from treating chronic conditions to preventing sickness. Furthermore, it is anticipated that the benefits of these gadgets will become better known throughout the projected period among professional athletes and consumers who engage in recreational exercise. Additionally, the Wearable Technology Market is expected to rise due to technical improvements in software and hardware and their growing acceptance in fitness, healthcare, and defense. An excessively high body fat percentage in an obese person’s body risks their health. Obesity has lately become a major public health issue on a global scale, having a considerable influence on mortality and morbidity. Thus, increasing obesity and other chronic diseases driving the Wearable Technology market revenue. Wearable Technology Market Segment Insights:Wearable technology product insights. The Wearable Technology Market segmentation, based on product, includes wrist-wear, headwear & eyewear, neckwear, and wearable cameras. The wrist-wear segment dominated the market, accounting for the maximum market revenue. To boost their product sales, several makers of smartwatches and fitness trackers target customers like athletes, outdoor enthusiasts, and sports fanatics. These gadgets track fitness-related parameters and promote a healthy lifestyle by reporting calorie consumption, water intake, and step counts. The headwear & Eyewear segment is anticipated to be the fastest-growing segment in the projected period. Wearable Technology Technology InsightsThe Wearable Technology Market segmentation, based on technology, includes computing, display, networking, and sensor. The sensor segment is accounted for the maximum revenue. Wearable sensors are entrenched in devices, such as smartwatches, fitness trackers, and others, that conglomerate smartphone connectivity with the usual features of Point-of-Care (PoC) systems in self-contained and independent modules. Such devices allow non-invasive or minimally invasive constant monitoring of a person’s biometrics, letting the recognition of minute physiological variations over time relative to standard readings. These factors are driving the revenue growth of the sensor technology segment in the projected period. Wearable technology Components InsightsThe Wearable Technology Market segmentation, based on components, includes control, memory, battery, sensing, and connectivity. The battery category dominates the market share due to growing demand for electronic devices such as smart wearable devices, smartphones, tablets, and laptops. The connectivity segment is anticipated to be the fastest-growing segment in the forecast period. Wearable Technology Application InsightsThe Wearable Technology Market segmentation, based on application, includes consumer electronics, healthcare, and enterprise & industrial. The consumer electronics category generated the most income. The significant proportion of this market may be attributed to the rise in wearable technologies, such as fitness bands and AR/VR headsets. Many producers, like Apple Inc., Garmin Ltd., Omron, and Nemaura, focus on developing devices that give data that includes both clinical and non-clinical information. For instance: Nemaura’s sugar BEAT Wearable Technology allows frequent blood glucose monitoring in diabetic patients, eliminating the need for regular finger-prick calibration. The healthcare segment is anticipated to be the fastest-growing segment in the projected period. The healthcare segment’s growth is supported by wearable devices’ expanding application potential in the pharmaceutical industry. Thanks to digital health technology, Doctors may communicate with their patients through telehealth services and mobile applications. Figure 1: Wearable Technology Market, by Applications 2022 & 2032 (USD Billion) Wearable Technology Regional InsightsBy region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Wearable Technology market area will dominate this market, owing to an increase in technology adoption. In addition, the growing demand for devices that promote health and facilitate preventive treatment will boost market growth in this region. Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil. Figure 2: Wearable Technology Market SHARE BY REGION 2022 (USD Billion) Europe's Wearable Technology market accounts for the second-largest market share due to the increasing awareness, raising awareness, and growing tech-savvy population. Further, the German Wearable Technology market held the largest market share, and the UK Wearable Technology market was the fastest-growing market in the European region. The Asia-Pacific Wearable Technology Market is expected to grow at the fastest CAGR from 2024 to 2032 due to changing lifestyles, rising requirements for wearable medical devices and increased fitness & sports. Moreover, China’s Wearable Technology market held the largest market share, and the Indian Wearable Technology market was the fastest-growing market in the Asia-Pacific region. Wearable Technology Key Market Players & Competitive InsightsLeading market players are investing heavily in research and development to expand their product lines, which will help the Wearable Technology market, grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Wearable Technology industry must offer cost-effective items to expand and survive in a more competitive and rising market climate. Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Wearable Technology industry to benefit clients and increase the market sector. In recent years, the Wearable Technology industry has offered some of the most significant advantages to wearable technology. Major players in the Wearable Technology market, including Adidas AG (Germany), Xiaomi Inc. (China), Apple Inc. (US), Google Inc. (US), Garmin Inc. (US), Fitbit (US), Jawbone (US), Huawei Technologies (China), Samsung Electronics Co. Ltd. (Korea), Sony Corporation (Japan), Nike Inc. (US), and others, are attempting to increase market demand by investing in research and development operations. Samsung Electronics Co. Ltd. (Korea) upholds a strong worldwide code of conduct for all workers and local laws and regulations. It considers ethical management to be a means of fostering trust among its stakeholders, including clients, shareholders, staff members, business partners, and local communities, as well as adapting to the quick changes in a global business environment. Samsung continues to manage its business transparently and fairly, train its staff, and run monitoring systems to become one of the world's most moral corporations. Samsung follows to a upfront business tenet: to use its technology and expertise to develop top-notch goods and services that make a civilized world. Samsung places high significance on its people and technology to do this. For Instance: In October 2022, the Galaxy Watch5, Galaxy Watch5 Pro, and Galaxy Watch5 Golf Edition were unveiled by Samsung. This launch broadens their product line, which will support the market grow during the forecast period. Apple Inc. is an American international technology company headquartered in Cupertino, California. Apple was established as Apple Computer Company on April 1, 1976, by Steve Wozniak, Steve Jobs, and Ronald Wayne. Apple is the world’s largest technology company by revenue. As of March 2023, Apple is the world’s biggest company by market capitalization. Apple provides several products such as Mac, IPhone, Laptop, iPad and others. For Instance: In September 2022, Apple released the redesigned Apple Watch SE and Apple Watch Series 8, updating the two best-selling smartwatches with ground-breaking performance, technology, and major safety enhancements. Key Companies in the Wearable Technology market includeAdidas AG (Germany) Xiaomi Inc. (China) Apple Inc. (US) Google Inc. (US) Gramin Inc. (US) Fitbit (US) Jawbone (US) Huawei Technologies (China) Samsung Electronics Co. Ltd. (Korea) Sony Corporation (Japan) Nike Inc. (US) Wearable Technology Industry DevelopmentsFebruary 2022: Apple bought AI Music, which uses artificial intelligence to produce adaptive music and unique soundtracks. AI Music created the “Infinite Music Engine” to create audio products for marketers, publishers, fitness professionals, and creative companies. October 2022: Google revealed the Pixel watch, a wristwatch. The Pixel Watch costs $ 349 for a Wi-Fi-only model and $399 for a cellular model. The Pixel watch costs $50 to $100 less than the Apple Watch Series 8 models. These Pixel Watches cannot be used with an iPhone, speaking of Apple. September 2022: Fitbit expanded its smartwatch product portfolio and launched Fitbit Sense 2 fitness watches, Fitbit Versa 4, and the Fitbit Inspire 4 fitness tracker with improved design and performance. Wearable Technology Market Segmentation:Wearable technology product outlook. Headwear & Eyewear Wearable Cameras Wearable Technology Technology OutlookWearable technology components outlook. Connectivity Wearable Technology Applications OutlookFitness & Wellness Consumer Electronics Wearable Technology Regional OutlookNorth America Rest of Europe Asia-Pacific South Korea Rest of Asia-Pacific Rest of the World Middle East Latin America
Wearable Technology Market Highlights:
Frequently Asked Questions (FAQ) : The Wearable Technology Market size was valued at USD 53.1 Billion in 2023. The global market is projected to grow at a CAGR of 26.83% during the forecast period, 2024-2032. North America had the largest share of the global market The key players in the market are Adidas AG (Germany), Xiaomi Inc. (China), Apple Inc. (US), Google Inc. (US), Garmin Inc. (US), Fitbit (US), Jawbone (US), Huawei Technologies (China), Samsung Electronics Co. Ltd. (Korea), Sony Corporation (Japan), Nike Inc. (US) and others. The wristwear category dominated the market in 2022. Sensor technology had the largest share of the global market.  Leading companies partner with us for data-driven Insights Kindly complete the form below to receive a free sample of this ReportWe do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.
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Ankit GuptaSenior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.  Free Sample RequestLeading companies partner with us for data-driven Insights. © 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
 WEARABLE TECHNOLOGY MARKET ANALYSISWearable technology market, by application type (fitness and wellness, infotainment, healthcare and medical, industrial and military),by region (north america, latin america, europe, middle east & africa, and asia pacific).
The global wearable technology market is estimated to be valued at US$ 128.07 Billion in 2023 and is expected to exhibit a CAGR of 12.0% over the forecast period (2023-2030). Wearable technology or also referred to as wearable are smart electronic devices worn close to or on the surface of skin wherein they can detect, analyze, and transmit information regarding the body such as vital signals. Wearable devices such as activity trackers are a prime example of the Internet of Things, wherein it enables the object to exchange data through the Internet with a manufacturer. The sleek design and multi-functionality are the factors that always attract a customer towards a product and wearable technology products offer these benefits, which are likely to boost the demand for wearable technology products. Apart from this, hand-worn terminals are now used in the industrial and military sectors in providing information regarding maps and routes. Global Wearable Technology Market: Regional Insights North America dominated the global industry in 2022 and accounted for the maximum share of 33.80 % of the overall revenue followed by the Asia Pacific and Europe regions. High technology adoption and the ease with which newly released items are made available have been major growth drivers for the regional market. Devices that promote health, facilitate preventive treatment and help manage ongoing ailments are in greater demand in the region. In Oct 2020 According to the National Library of Medicine, 30% of Americans use wearable medical technology. The Asia Pacific region is expected to register the fastest growth rate from 2022 to 2030. Global Wearable Technology Market Drivers: Compactness and portability of wearable devices is expected to drive growth of the global wearable technology market during the forecast period. Over the years, wearable devices have become more and more compact and portable. This is attributed to technological advancements in the sector of wearable technology products. Previously, computing devices were bulky however, the size of these devices kept decreasing gradually and now a new era of technology has arrived where the products with computing technology can be worn in a slim and sleek fashion. These technologically advanced devices such as sleep sensors, smart glasses, smartwatches , and military heads-up displays and so on are compact yet multi-functional. Growing application of wearable technology products in various sectors is expected to propel the global wearable technology market growth over the forecast period. Wearable technology is being adopted in various sectors including healthcare, infotainment, wellness, medical, military, industry, and others. Wearable devices such as heads-up displays are expected to find applications in various sectors including construction, industrial sector, and military sector apart from the healthcare and fitness sector. Wearable Technology Market Report Coverage
Global Wearable Technology Opportunities: Product innovations can present lucrative growth opportunities. Enhanced product quality design will result in better acceptance of wearable technology products. In the present scenario, only a few players are present in this market that enjoys complete dominance. Products currently available such as Google glasses, Nike + Fuelband, and so on, offer multi-functionality to the users but are priced high, and hence not affordable to middle-class consumers. This is a niche market and new entrants are likely to enhance product quality and lower the price. New entrants are expected in the market, and Apple is already making efforts. The entry of Apple's product will likely pose fierce competition to the existing players in the wearable segment. Apple Watch 8 could detect skin temperature, unlike Fitbit Sense, despite adding additional health functions to Apple's wearable lineup. The watch can also track menstrual cycles, detect falls, ask for help using its fall detection feature, find low and high heart rates, and diagnose irregular heart rhythms using a 30-second test. The introduction of such cutting-edge capabilities in smartwatches drives the expansion of the wearable industry worldwide. Global Wearable Technology Market- Impact of Coronavirus (Covid-19) Pandemic The COVID-19 pandemic outbreak has had a profound impact on every industry and has caused a number of unforeseen changes in the global economy. The market for wearable technology was significantly impacted by the COVID-19 epidemic. In the Asia Pacific area, production of these gadgets has decreased. Lockdowns severely impacted this industry's supply chain and logistics in both developed and emerging nations. Sales volume and revenue from sales were both impacted by the epidemic. The use of wearable technology in healthcare has increased as a result of the COVID-19 pandemic because it offers both patients and healthcare providers a number of advantages and benefits, such as earlier disease detection or risk of a significant health event and real-time health monitoring of vital statistics. Figure 1: Global Wearable Technology Market Share (%), By Region, 2022  To learn more about this report, request sample copy Global Wearable Technology Trends: At present, there are several products available in the market such as smart glasses, smartwatches, sleep sensors, smart clothing, activity monitors, wearable patches, drug delivery, continuous glucose monitors, hand-worn terminals, and more. Additional wearable technology products are likely to arrive in this market as major players continue with their research and innovations in this sector. However, new entrants are also likely to enter this market. For instance, in 20 Jan 2022 Microsoft is developing its own augmented reality headset, which is expected to be a direct competitor to Google’s Glass headset. In the fitness and wellness sector, smart sports glasses will attract the youth with its advanced features. Activity monitors and sleep sensors are also likely to witness high growth with increasing incidence of old age diseases and rising awareness about health and fitness both among young and old people. Rising aging population will highly contribute to the sale of wearable technology products in the fitness and wellness segment. Global Wearable Technology Market Restraints: High cost of wearable devices is expected to restrain growth global wearable technology market during the forecast period. Wearable devices are more expensive as compared to other electronic devices. Since the technology is in its nascent stage and there are fewer players in the market, the price of the product is significantly high. This high price is making the products unaffordable to middle-class consumers. Slower acceptance of products by consumers is expected to hinder the global wearable technology market growth over the forecast period. Since this technology is new, consumer acceptance remains the biggest obstacle. Easy acceptance of technologically advanced products takes time when it comes to wearable technology products. For instance, products with wearable technology in a cyborg-like shape will be tough for a person to accept when they are not used to such products. Global Wearable Technology Segmentation: The global narcotics scanner market report is segmented by Application type. Based on Application Type the market is segmented into Fitness and wellness, infotainment, healthcare and medical and industry and military. Out of which, healthcare and medical is expected to dominate the global market over the forecast period In the fitness and wellness sector, smart sports glasses will attract the youth with its advanced features. Activity monitors and sleep sensors are also likely to witness high growth with increasing incidence of old age diseases and rising awareness about health and fitness both among young and old people. Rising aging population will highly contribute to the sale of wearable technology products in the fitness and wellness segment. Figure 2: Global Wearable Technology Market Share (%), By Application, 2022  The healthcare held dominant position in the market and accounted for xx% share in the global wearable technology market in 2022. The segment is expected to reach US$ xx million in 2030, owing to the increasing need for health monitoring owing to the surge in health awareness among individuals is expected to fuel the demand for healthcare applications over the forecast period. Global Wearable Technology Market: Key Developments Key companies in the market are focused on product launches, in order to enhance the product portfolio. For instance, in January 2020, Suunto Oy , a Finland-based sport swatch company, launched Wear OS smartwatch. In September 2020, Samsung Electronics Co., Ltd ., a South Korea-based electronics company launched the first-ever titanium model of Galaxy Watch3, built with premium materials and a stunning signature rotating bezel. The watch features military-grade durability and water resistance. In September 2020, Apple Inc ., a U.S.-based electronics company launched Apple Watch Series 6 and Apple Watch SE for significant developments in health and wellness features to iPhone, iPad, and Apple TV. Apple Watch Series 6 expanded the health capabilities of previous Apple Watch models with a new feature that measures the oxygen saturation of blood for a better understanding of fitness and wellness. In April 2021 FitBit Inc., announced the launch of Luxe, a new fashion-forward wellness and fitness tracker with stress and sleep monitoring features. Global Wearable Technology Market: Key Companies Insights The Global Wearable Technology Market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global wearable technology market are Key players operating in the global wearable technology market are Adidas, Suunto, Abbott laboratories, Sony, Eurotech, Nike, Google, Inc., Garmin International Inc., Medtronic, Fitbit Inc., and Apple Inc. *Definition: Wearable technology is any kind of electronic device designed to be worn on the user's body. Such devices can take many different forms, including jewelry, accessories, medical devices, and clothing or elements of clothing. The term wearable computing implies processing or communications capabilities, but in reality, the sophistication among wearable can vary. About Author Monica Shevgan Monica Shevgan is a Senior Management Consultant. She holds over 13 years of experience in market research and business consulting with expertise in Information and Communication Technology space. With a track record of delivering high quality insights that inform strategic decision making, she is dedicated to helping organizations achieve their business objectives. She has successfully authored and mentored numerous projects across various sectors, including advanced technologies, engineering, and transportation. Wearable Technology Market Report Snapshots
Missing comfort of reading report in your local language? Find your preferred language : Transform your strategy with exclusive trending reports: Frequently Asked Questions How big is the Wearable Technology Market ?What is the projected market size and cagr of the market, what are key driving factors in the market, what are major restraining factors in the market, what are prominent opportunities in the market, which are the major players operating in the market.  Credibility and Certifications  Why Choose Us? 100% Proven Track Record Trusted by Fortune 500 enlisted companies 75+ Metrics Studied In-depth market research and data crunching Custom Research Solutions Market intelligence specific to your operational area Timely Delivery Syndicated reports delivered immediately post purchase We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports Want to Buy a Report but have a Limited Budget? We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail Press Release Wearable Technology Market To Surpass US$ 316.26 Bn By 2030 EXISTING CLIENTELEJoining thousands of companies around the world committed to making the Excellent Business Solutions.  Wearable Technology Market
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 Wearable Device Market - Forecasts from 2020 to 2025 
Table of ContentsCompanies mentioned, methodology, related topics, related reports.
 Global Wearable Market (by Product, Application, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)
 US Wearables Market 2024-2028
 North America Wearable Technology Market Outlook, 2028
 Wearable Technology Market Report by Product, Application, and Region 2024-2032
 Wearable Devices Market - Forecasts from 2024 to 2029
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DOWNLOAD SAMPLE Please fill in the information below to download the requested sample.  Wearable Devices Market by Product Type (Smart Watches, Fitness & Activity Tracker, Smart Eyewear, Smart Clothing, Medical Devices, Others), by End-use Industries (Fitness & Wellness, Healthcare & Medical, Infotainment, Enterprise & Industrial, Military & Defense, Others), by Distribution Channel (Online Retailing, Exclusives Stores, Multi-brand Stores, Hypermarket, Pharmacies) – Growth, Future Prospects & Competitive Analysis, 2018 – 2026Price: $3699.
Industry OutlookWearable devices recorded sales of 130.8 million units in 2017 and are projected to witness double-digit growth of 16.5% from 2018 to 2026. Wearable devices can be defined as clothing or accessories with advanced technologies that include products such as smartwatches, fitness and activity trackers, smart eyewear, smart clothing, medical devices, and others. These devices are designed to be worn in daily life routines and are mostly available with wireless connectivity, a processor, and a user interface on the device itself or on the paired device. Smartwatches were the dominant segment, accounting for over 40% of the total shipment in 2017, while fitness and activity trackers were projected to remain the most popular and fastest-growing segment during the period from 2018 to 2026. Growth in the fitness and activity tracker segment can be attributed to their function of monitoring heart rate and tracking body activity, as well as their ease of usability, portability, and integration into everyday life. Rising consumer awareness of wearable devices in key markets such as China, the UK, and the U.S., coupled with technological advancements in software and hardware components and their adoption in fitness & wellness, healthcare & medical, military & defense, and other sectors, are augmenting the growth of the wearable devices market. Moreover, increasing penetration of smartphones and their compatibility with wearable devices, growing preference for wireless connectivity among healthcare providers, increasing awareness of fitness and health, and high penetration of IT in end-use industries such as healthcare, military and defense, enterprise and industrial, etc. are some other factors supplementing the growth of wearable devices across the globe. Although the wearable devices market has a positive growth outlook, the premium cost of wearable devices, limited battery life, and data security issues are some of the factors expected to hinder the market growth during the forecast period. North America is the largest market for wearable devices and is expected to dominate global demand over the forecast period owing to technological developments. Asia Pacific, on the other hand, is expected to grow rapidly due to low production costs in India and China. Since user-friendly technological innovation is the key to success in the wearable devices market, players operating in the market are striving to cater to unmet consumer needs such as long battery life, durability, and low cost by consistently introducing new products in the market, making new product development a preferred strategy of wearable device manufacturers.  Access crucial information at unmatched prices!Request your free sample report today & start making informed decisions powered by Credence Research! Download Free Sample  Market SynopsisThe infotainment and fitness and wellness industries drive demand for smartwatches, making it the market leader. Smartwatches were the leading product type segment during 2017–2018. The segment is also projected to witness robust growth during the forecast period owing to increasing demand from the infotainment and fitness & wellness end-use industries. Smartwatches accounted for over 40% of total wearable device sales across the world in 2017. Smart Watches are equipped with various cameras, an accelerometer, a thermometer, a compass, maps, a calculator, a picture gallery, a music player, an SD card, a rechargeable battery, a speaker, and various other user-friendly features. The advent of Apple Inc. into the smartwatch segment disrupted the market in terms of value and volume. Fitness & Activity Tracker and Medical Devices product types are also projected to witness high growth during the forecast period on account of rising health awareness among consumers and the rising prevalence of lifestyle diseases such as hypertension, obesity, and diabetes, fueling demand for continuous monitoring of various physiological factors that include calorie intake, blood sugar levels, and blood pressure. Moreover, increasing penetration of smartphones and smartphone-linked healthcare applications, coupled with the growth of remote patient monitoring, are a few other factors propelling the growth of this segment. Fitness & Wellness Dominated the End-Use Industry Segment Owing to Rising Lifestyle Diseases Globally In 2017, the Fitness & Wellness segment accounted for more than 30% of total wearable device sales, followed by Healthcare & Medical, and Infotainment.Wearable devices used in the fitness and wellness industry include smart watches, smart clothing, smart glasses, sleep sensors, heads-up displays, foot pods and pedometers, fitness and heart rate monitors, activity monitors, and others. Rising average life expectancy, a higher ratio of seniors, and an increased prevalence of chronic disease are expected to drive the Fitness & Wellness segment in the coming years. In 2017, the Infotainment, Healthcare, and Medical segment closely followed the Fitness & Wellness segment in terms of market value. The Healthcare & Medical segment includes the following devices: continuous glucose monitoring, insulin pumps, blood pressure monitors, drug delivery products, defibrillators, patches, smart glasses, hearing aids, and others. The Healthcare & Medical Devices segment is projected to witness significant growth during the forecast period. Online retailing is projected to witness robust growth during the forecast period. In 2017, Exclusive Stores had the highest share of total wearable device sales, followed by Multi-brand Stores and Online Retailing. Increasing demand for wearable products in retail outlets in developed economies is boosting the demand for this segment. With an objective to improve consumers’ experience with the brand, companies aim to boost their market by using exclusive retail outlets. These stores offer not only various products but also provide excellent post-sale services. The growth of this segment is attributed to the fact that consumers in exclusive stores experience a more intimate and personalized shopping experience compared to online retailing. Online retailing is identified as the most popular and fastest-growing distribution channel for wearable devices. Online retail primarily refers to the various e-commerce stores that display various products with special offers and price tags and where consumers can purchase these products with a simple payment gateway via the cart system. Online platforms allow consumers to find the best product for their needs without having to physically visit a store to do so. Hence, the convenience factor for consumers and the rising penetration of online shopping are expected to drive the online retailing segment during the forecast period. End-use industries in developed economies are expected to drive market growth. In terms of value and unit shipment, North America held the largest market share of more than 35% in 2017, followed by Europe and Asia-Pacific. North America’s wearable devices market is mainly driven by huge demand from U.S. end-use industries. Factors such as the growing prevalence of chronic diseases and obesity, the increasing application of remote patient monitoring and home care, the aging population, the increasing number of professional athletes, and clinical and military research are propelling the demand for wearable devices in the region. Asia-Pacific is projected to witness the fastest CAGR during the forecast period. Increased government budgets for the healthcare sector, an increasing geriatric population base, rising disposable income, and rapid economic growth are expected to boost the demand for wearable devices in the region. In the fourth quarter of 2017, Apple takes the lead in the wearable device market. Because of a surge in smartwatch shipments around the world, Apple is the market leader in the smartwatch segment. The activity and fitness tracker segment is dominated by two giants: Fitbit and Xiaomi. Product innovation and new product development are among the preferred strategies adopted by key players to acquire more shares and get an edge over other players in the wearable devices market. For instance, Samsung and Huawei are launching new wearable devices in the Middle East and Africa region to acquire a greater share and strengthen their foothold in the region, which is growing at a CAGR of over 15% annually. Key manufacturers of wearable devices in the market include Apple, Samsung, LG, Fitbit, MI, Nike, Flex, Sony, Garmin, Huawei, Eurotech, Abbot, and Medtronic, among others. Periods of History and ForecastEach market segment is analyzed in our study for the period of 2016 to 2026, with 2017 as the base year, while the period from 2018 to 2026 is considered for the CAGR calculation. Report ScopeThe report provides a comprehensive overview of the global wearable devices market by categorizing it into the following segments: This research report describes leading continents and their major countries, along with profiles of key players operating in the overall market and their planned developments. Our report further defines the overall market dynamics, such as drivers, challenges, and opportunities prevalent in the market, to understand the global wearable devices market more explicitly. Our in-depth quantitative and qualitative analysis of each segment up to the country level highlights investment opportunities and revenue pockets in the market. Shape Your Report to Specific Countries or Regions & Enjoy 30% Off!Key questions are answered in this report..
Chapter 1 Preface 14 1.1 Report Scope and Description 14 1.1.1 Study Purpose 14 1.1.2 Target Audience 14 1.1.3 USP and Key Offerings 14 1.2 Research Scope 15 1.3 Research Methodology 16 1.3.1 Phase I – Secondary Research 16 1.3.2 Phase II – Primary Research 17 1.3.3 Phase III – Expert Panel Review 17 1.3.4 Approach Adopted 17 1.3.5 Top-Down Approach 18 1.3.6 Bottom-Up Approach 18 1.3.7 Assumptions 19 1.4 Market Segmentation 19 Chapter 2 Executive Summary 20 2.1 Market Snapshot: Global WD Market 21 2.1.1 Global WD Market, by Type, 2017 (Mn Units) (US$ Bn) 23 2.1.2 Global WD Market, by End-use Industries, 2017 (Mn Units) (US$ Bn) 23 2.1.3 Global WD Market, by Distribution Channel, 2017 (Mn Units) (US$ Bn) 24 2.1.4 Global WD Market, by Geography, 2017 (Mn Units) (US$ Bn) 24 Chapter 3 Market Dynamics 25 3.1 Introduction 25 3.2 Market Dynamics 26 3.2.1 Market Drivers 26 3.2.1.1 Rising Adoption of Electronics in Asia-Pacific 26 3.2.1.2 Driver 2 27 3.2.2 Challenges 28 3.2.2.1 Challenge 1 28 3.2.2.2 Challenge 2 29 3.2.3 Opportunities 30 3.2.3.1 Opportunity 1 30 3.2.3.2 Opportunity 2 31 3.3 Attractive Investment Proposition, by Geography, 2017 32 3.4 Competitive Landscape: Market Positioning of Key Players, 2017 33 Chapter 4 Global Wearable Devices (WD) Market, by Product Type 34 4.1 Overview 34 4.1.1 Global WD Market Value Share, by Product Type, 2017 & 2026 (Value, %) 35 4.1.2 Global WD Market, by Product Type, 2016 – 2026 (Mn Units) (US$ Bn) 35 4.2 Smart Watches 37 4.2.1 Global WD Market, by Smart Watches, 2016 – 2026 (Mn Units) (US$ Bn) 37 4.3 Fitness & Activity Tracker 38 4.3.1 Global WD Market, by Fitness & Activity Tracker, 2016 – 2026 (Mn Units) (US$ Bn) 38 4.4 Smart Eyewear 39 4.4.1 Global WD Market, by Smart Eyewear, 2016 – 2026 (Mn Units) (US$ Bn) 39 4.5 Smart Clothing 40 4.5.1 Global WD Market, by Smart Clothing, 2016 – 2026 (Mn Units) (US$ Bn) 40 4.6 Medical Devices 41 4.6.1 Global WD Market, by Medical Devices, 2016 – 2026 (Mn Units) (US$ Bn) 41 4.7 Others 42 4.7.1 Global WD Market, by Others, 2016 – 2026 (Mn Units) (US$ Bn) 42 Chapter 5 Global Wearable Devices (WD) Market, by End-use Industries 43 5.1 Overview 43 5.1.1 Global WD Market Value Share, by End-use Industries, 2017 & 2026 (Value, %) 44 5.1.2 Global WD Market, by End-use Industries, 2016 – 2026 (Mn Units) (US$ Bn) 44 5.2 Fitness & Wellness 46 5.2.1 Global WD Market, by Fitness & Wellness, 2016 – 2026 (Mn Units) (US$ Bn) 46 5.3 Healthcare & Medical 47 5.3.1 Global WD Market, by Healthcare & Medical, 2016 – 2026 (Mn Units) (US$ Bn) 47 5.4 Infotainment 48 5.4.1 Global WD Market, by Infotainment, 2016 – 2026 (Mn Units) (US$ Bn) 48 5.5 Enterprise & Industrial 49 5.5.1 Global WD Market, by Enterprise & Industrial, 2016 – 2026 (Mn Units) (US$ Bn) 49 5.6 Military & Defense 50 5.6.1 Global WD Market, by Military & Defense, 2016 – 2026 (Mn Units) (US$ Bn) 50 5.7 Others 51 5.7.1 Global WD Market, by Others, 2016 – 2026 (Mn Units) (US$ Bn) 51 Chapter 6 Global Wearable Devices (WD) Market, by Distribution Channel 52 6.1 Overview 52 6.1.1 Global WD Market Value Share, by Distribution Channel, 2017 & 2026 (Value, %) 53 6.1.2 Global WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) (US$ Bn) 53 6.2 Online Retailing 55 6.2.1 Global WD Market, by Online Retailing, 2016 – 2026 (Mn Units) (US$ Bn) 55 6.3 Exclusives Stores 56 6.3.1 Global WD Market, by Exclusives Stores, 2016 – 2026 (Mn Units) (US$ Bn) 56 6.4 Multi-brand Stores 57 6.4.1 Global WD Market, by Multi-brand Stores, 2016 – 2026 (Mn Units) (US$ Bn) 57 6.5 Hypermarket 58 6.5.1 Global WD Market, by Hypermarket, 2016 – 2026 (Mn Units) (US$ Bn) 58 6.6 Pharmacies 59 6.6.1 Global WD Market, by Pharmacies, 2016 – 2026 (Mn Units) (US$ Bn) 59 Chapter 7 Global Wearable Devices (WD) Market, by Geography 60 7.1 Overview 60 7.1.1 Global WD Market Value Share, by Geography, 2017 & 2026 (Value %) 61 7.1.2 Global WD Market, by Geography 2016 – 2026 (Mn Units) (US$ Bn) 61 7.2 North America 63 7.2.1 North America WD Market, by Product Type 2016 – 2026 (Mn Units) (US$ Bn) 63 7.2.2 North America WD Market, by End-use Industries 2016 – 2026 (Mn Units) (US$ Bn) 64 7.2.3 North America WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) (US$ Bn) 65 7.2.4 North America WD Market, by Country (Mn Units) (US$ Bn) 66 7.3 Europe 67 7.3.1 Europe WD Market, by Product Type 2016 – 2026 (Mn Units) (US$ Bn) 67 7.3.2 Europe WD Market, by End-use Industries 2016 – 2026 (Mn Units) (US$ Bn) 68 7.3.3 Europe WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) (US$ Bn) 69 7.3.4 Europe WD Market, by Country/Region (Mn Units) (US$ Bn) 70 7.4 Asia-Pacific 71 7.4.1 Asia-Pacific WD Market, by Product Type 2016 – 2026 (Mn Units) (US$ Bn) 71 7.4.2 Asia-Pacific WD Market, by End-use Industries 2016 – 2026 (Mn Units) (US$ Bn) 72 7.4.3 Asia-Pacific WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) (US$ Bn) 73 7.4.4 Asia-Pacific WD Market, by Country/Region (Mn Units) (US$ Bn) 74 7.5 Latin America 75 7.5.1 Latin America WD Market, by Product Type 2016 – 2026 (Mn Units) (US$ Bn) 75 7.5.2 Latin America WD Market, by End-use Industries 2016 – 2026 (Mn Units) (US$ Bn) 76 7.5.3 Latin America WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) (US$ Bn) 77 7.5.4 Latin America WD Market, by Country/Region (Mn Units) (US$ Bn) 78 7.6 Middle East & Africa 79 7.6.1 Middle East & Africa WD Market, by Product Type 2016 – 2026 (Mn Units) (US$ Bn) 79 7.6.2 Middle East & Africa WD Market, by End-use Industries 2016 – 2026 (Mn Units) (US$ Bn) 80 7.6.3 Middle East & Africa WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) (US$ Bn) 81 7.6.4 Middle East & Africa WD Market, by Region (Mn Units) (US$ Bn) 82 Chapter 8 Company Profiles 83 8.1 Apple Inc. 83 8.2 Samsung 85 8.3 LG 87 8.4 Fitbit 89 8.5 MI 91 8.6 Garmin 93 8.7 Huawei 95 8.8 Eurotech 97 8.9 Abbot 99 8.10 Medtronic 101 List of Figures FIG. 1 Global Wearable Devices (WD) Market: Research Methodology 17 FIG. 2 Market Size Estimation – Top Down & Bottom up Approach 19 FIG. 3 Global WD Market Segmentation 20 FIG. 4 Global WD Market, by Product Type, 2017 (Mn Units, US$ Bn) 24 FIG. 5 Global WD Market, by End-use Industry, 2017 (Mn Units, US$ Bn) 24 FIG. 6 Global WD Market, by Distribution Channel, 2017 (Mn Units, US$ Bn) 25 FIG. 7 Global WD Market, by Geography, 2017 (Mn Units, US$ Bn) 25 FIG. 8 Attractive Investment Proposition, by Geography, 2017 33 FIG. 9 Competitive Landscape: Market Positioning of Key Wearable Devices Manufacturers, 2017 34 FIG. 10 Global WD Market Value Share, by Product Type, 2017 & 2026 (Value, %) 36 FIG. 11 Global WD Market, by Smart Watches, 2016 – 2026 (Mn Units) (US$ Bn) 38 FIG. 12 Global WD Market, by Fitness & Activity Tracker, 2016 – 2026 (Mn Units) (US$ Bn) 39 FIG. 13 Global WD Market, by Smart Eyewear, 2016 – 2026 (Mn Units) (US$ Bn) 40 FIG. 14 Global WD Market, by Smart Clothing, 2016 – 2026 (Mn Units) (US$ Bn) 41 FIG. 15 Global WD Market, by Medical Devices, 2016 – 2026 (Mn Units) (US$ Bn) 42 FIG. 16 Global WD Market, by Others, 2016 – 2026 (Mn Units) (US$ Bn) 43 FIG. 17 Global WD Market Value Share, by End-use Industries, 2017 & 2026 (Value, %) 45 FIG. 18 Global WD Market, by Fitness & Wellness, 2016 – 2026 (Mn Units) (US$ Bn) 47 FIG. 19 Global WD Market, by Healthcare & Medical, 2016 – 2026 (Mn Units) (US$ Bn) 48 FIG. 20 Global WD Market, by Infotainment, 2016 – 2026 (Mn Units) (US$ Bn) 49 FIG. 21 Global WD Market, by Enterprise & Industrial, 2016 – 2026 (Mn Units) (US$ Bn) 50 FIG. 22 Global WD Market, by Military & Defense, 2016 – 2026 (Mn Units) (US$ Bn) 51 FIG. 23 Global WD Market, by Others, 2016 – 2026 (Mn Units) (US$ Bn) 52 FIG. 24 Global WD Market Value Share, by Distribution Channel, 2017 & 2026 (Value, %) 54 FIG. 25 Global WD Market, by Online Retailing, 2016 – 2026 (Mn Units) (US$ Bn) 56 FIG. 26 Global WD Market, by Exclusives Stores, 2016 – 2026 (Mn Units) (US$ Bn) 57 FIG. 27 Global WD Market, by Multi-brand Stores, 2016 – 2026 (Mn Units) (US$ Bn) 58 FIG. 28 Global WD Market, by Hypermarket, 2016 – 2026 (Mn Units) (US$ Bn) 59 FIG. 29 Global WD Market, by Pharmacies, 2016 – 2026 (Mn Units) (US$ Bn) 60 FIG. 30 Global WD Market Value Share, by Geography, 2017 & 2026 (Value %) 62 List of Tables TABLE 1 Market Snapshot: Global Wearable Devices (WD) Market Volume 22 TABLE 2 Market Snapshot: Global WD Market Value 23 TABLE 3 Economic Growth in Leading Asia-Pacific Countries 27 TABLE 4 Global WD Market, by Product Type, 2016 – 2026 (Mn Units) 36 TABLE 5 Global WD Market, by Type 2016 – 2026 (US$ Bn) 37 TABLE 6 Global WD Market, by End-use Industries, 2016 – 2026 (Mn Units) 45 TABLE 7 Global WD Market, by End-use Industries 2016 – 2026 (US$ Bn) 46 TABLE 8 Global WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) 54 TABLE 9 Global WD Market, by Distribution Channel 2016 – 2026 (US$ Bn) 55 TABLE 10 Global WD Market, by Geography 2016 – 2026 (Mn Units) 62 TABLE 11 Global WD Market, by Geography 2016 – 2026 (US$ Bn) 63 TABLE 12 North America WD Market, by Product Type 2016 – 2026 (Mn Units) 64 TABLE 13 North America WD Market, by Product Type 2016 – 2026 (US$ Bn) 64 TABLE 14 North America WD Market, by End-use Industries 2016 – 2026 (Mn Units) 65 TABLE 15 North America WD Market, by End-use Industries 2016 – 2026 (US$ Bn) 65 TABLE 16 North America WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) 66 TABLE 17 North America WD Market, by Distribution Channel, 2016 – 2026 (US$ Bn) 66 TABLE 18 North America WD Market, by Country 2016 – 2026 (Mn Units) 67 TABLE 19 North America WD Market, by Country 2016 – 2026 (US$ Bn) 67 TABLE 20 Europe WD Market, by Product Type 2016 – 2026 (Mn Units) 68 TABLE 21 Europe WD Market, by Product Type 2016 – 2026 (US$ Bn) 68 TABLE 22 Europe WD Market, by End-use Industries 2016 – 2026 (Mn Units) 69 TABLE 23 Europe WD Market, by End-use Industries 2016 – 2026 (US$ Bn) 69 TABLE 24 Europe WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) 70 TABLE 25 Europe WD Market, by Distribution Channel, 2016 – 2026 (US$ Bn) 70 TABLE 26 Europe WD Market, by Country/Region 2016 – 2026 (Mn Units) 71 TABLE 27 Europe WD Market, by Country/Region 2016 – 2026 (US$ Bn) 71 TABLE 28 Asia-Pacific WD Market, by Product Type 2016 – 2026 (Mn Units) 72 TABLE 29 Asia-Pacific WD Market, by Product Type 2016 – 2026 (US$ Bn) 72 TABLE 30 Asia-Pacific WD Market, by End-use Industries 2016 – 2026 (Mn Units) 73 TABLE 31 Asia-Pacific WD Market, by End-use Industries 2016 – 2026 (US$ Bn) 73 TABLE 32 Asia-Pacific WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) 74 TABLE 33 Asia-Pacific WD Market, by Distribution Channel, 2016 – 2026 (US$ Bn) 74 TABLE 34 Asia-Pacific WD Market, by Country/Region 2016 – 2026 (Mn Units) 75 TABLE 35 Asia-Pacific WD Market, by Country/Region 2016 – 2026 (US$ Bn) 75 TABLE 36 Latin America WD Market, by Product Type 2016 – 2026 (Mn Units) 76 TABLE 37 Latin America WD Market, by Product Type 2016 – 2026 (US$ Bn) 76 TABLE 38 Latin America WD Market, by End-use Industries 2016 – 2026 (Mn Units) 77 TABLE 39 Latin America WD Market, by End-use Industries 2016 – 2026 (US$ Bn) 77 TABLE 40 Latin America WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) 78 TABLE 41 Latin America WD Market, by Distribution Channel, 2016 – 2026 (US$ Bn) 78 TABLE 42 Latin America WD Market, by Country/Region 2016 – 2026 (Mn Units) 79 TABLE 43 Latin America WD Market, by Country/Region 2016 – 2026 (US$ Bn) 79 TABLE 44 Middle East & Africa WD Market, by Product Type 2016 – 2026 (Mn Units) 80 TABLE 45 Middle East & Africa WD Market, by Product Type 2016 – 2026 (US$ Bn) 80 TABLE 46 Middle East & Africa WD Market, by End-use Industries 2016 – 2026 (Mn Units) 81 TABLE 47 Middle East & Africa WD Market, by End-use Industries 2016 – 2026 (US$ Bn) 81 TABLE 48 Middle East & Africa WD Market, by Distribution Channel, 2016 – 2026 (Mn Units) 82 TABLE 49 Middle East & Africa WD Market, by Distribution Channel, 2016 – 2026 (US$ Bn) 82 TABLE 50 Middle East & Africa WD Market, by Region 2016 – 2026 (Mn Units) 83 TABLE 51 Middle East & Africa WD Market, by Region 2016 – 2026 (US$ Bn) 83 TABLE 52 BASF SE: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 84 TABLE 53 Samsung: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 86 TABLE 54 LG: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 88 TABLE 55 Fitbit: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 90 TABLE 56 MI: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 92 TABLE 57 Garmin: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 94 TABLE 58 Huawei: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 96 TABLE 59 Eurotech: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 98 TABLE 60 Abbot: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 100 TABLE 61 Medtronic: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development) 102 Frequently Asked Questions The market for Wearable Devices Market is expected to reach US$ XX Mn by 2026. The Wearable Devices Market is expected to see significant CAGR growth over the coming years, at 16.5%. The report is forecasted from 2018-2026. The base year of this report is 2017. Apple, Samsung, LG, Fitbit, MI, Nike, Flex, Sony, Garmin, Huawei, Eurotech, Abbot, and Medtronic are some of the major players in the global market. Related ReportsResidential robotic vacuum cleaner market, travel toiletry market, cruelty-free body care market, japan mattress market, japan residential water softening market, returnable glass bottle ink market, sports bottle market, wood charcoal market, dairy containers market, dmae cream market, japan combat helmet market, australia consumer appliance market, purchase options, request free sample. Have a question?  Don’t settle for less – trust Mitul to help you find the best solution. Call: +91 6232 49 3207 Report delivery within 24 to 48 hours – Other Info –– What people say ?-  I am very impressed with the information in this report. 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"Designing Growth Strategies is in our DNA" Wearable Medical Devices Market Size, Share & Industry Analysis, By Product (Diagnostic & Monitoring Devices {Fitness Bands, Smartwatches, Smartclothing, and Others} and Therapeutic Devices {Wearable Defibrillators, Drug Delivery Devices, Pain Management Devices, Hearing Aids, and Others}), By Application (Remote Patient Monitoring & Home Healthcare and Sports & Fitness), By Grade (Consumer Grade and Clinical Grade), By Distribution Channel (Retail Pharmacies, Online Distribution, and Hypermarkets & Others), and Regional Forecast, 2024-2032Last Updated: August 19, 2024 | Format: PDF | Report ID: FBI101070
KEY MARKET INSIGHTSThe global wearable medical devices market size was valued at USD 81.15 billion in 2023. The market is projected to grow from USD 91.21 billion in 2024 to USD 324.73 billion by 2032, exhibiting a CAGR of 17.2% during the forecast period. Wearables in healthcare encompass medical devices that customers can wear, such as activity trackers and smartwatches. They are specifically designed to monitor and collect real-time data on a user’s health and fitness. According to an article published by mHealth Intelligence in 2023, around 40% of U.S. adults are using healthcare-related applications, and 35% are utilizing wearable healthcare devices. Recent technological advancements in wearable devices and the growing need among the population to enhance their health have motivated several market players to develop more smart devices, such as Fitbit, biosensors, and hearing aids. In addition, the increasing prevalence of chronic diseases and lifestyle-related disorders is one of the major factors anticipated to propel the sales of wearable medical devices during the forecast period.
The outbreak of the COVID-19 pandemic had an overall positive impact on the market. Manufacturers of diagnostic devices reported significant growth in their revenues during this period due to a strong demand for wearable medical devices among the population. These devices were utilized for self-monitoring the symptoms of COVID-19. Wearable Medical Devices Market TrendsGrowing Shift Toward Health Consciousness Among General Population There is a growing awareness toward prioritization of health and well-being among the general population. Healthcare wearables, including smartwatches and fitness bands, among others, are becoming popular owing to their versatility and convenience among the general population.
Major market players are currently focusing on introducing advanced wearable devices in the market to cater to the growing needs of customers.
In addition, in May 2020, Koninklijke Philips N.V. received the U.S. FDA and CE clearance to use Biosensor BX100 in monitoring COVID-19 patients in hospitals. The biosensor was a single-use wearable patch specially designed to be integrated with a scalable hub to monitor patients across hospital rooms. This product could also be incorporated into existing clinical workflows for mobile viewing and notifications. Request a Free sample to learn more about this report. Wearable Medical Devices Market Growth FactorsGrowing Prevalence of Chronic Diseases to Boost the Growth of the Market There is an increasing prevalence of chronic diseases, including hypertension, diabetes, and others, owing to sedentary lifestyle among patients, further imposing a financial burden on the healthcare systems. The growing prevalence of these chronic disorders is further driving the focus toward the provision of timely and routine diagnosis among the patient population. Moreover, governmental organizations and healthcare agencies have been actively promoting routine diagnosis through various campaigns and awareness programs. These initiatives have resulted in an increased awareness of products and devices for diagnosing and monitoring vital signs among the general population. The aforementioned factors, coupled with the introduction of vital sign monitoring devices that measure heart rate, SpO2, and blood glucose levels by market players, have led to a significant rise in demand for these devices among the general population and patients.
RESTRAINING FACTORSHigh Cost of Maintenance of Wearable Devices May Limit Their Adoption There is a vast advancement in the technology of wearable devices, boosting their adoption among the general population. However, the high cost associated with the maintenance of these wearable devices is anticipated to limit their adoption in the market. The periodic replacement of chips, sensors, batteries, and other accessories equipped in these devices increases their overall cost among the population. These factors, coupled with limited reimbursement policies for these devices, have contributed to their limited adoption in both developed and emerging countries. Wearable Medical Devices Market Segmentation AnalysisBy product analysis. Increasing Prevalence of Chronic Diseases Globally to Boost Use of Diagnostic & Patient Monitoring Devices By product, the market is bifurcated into diagnostic & monitoring devices and therapeutic devices. The diagnostic & monitoring devices segment dominated the global wearable medical devices market share in 2023. The growing prevalence of chronic diseases, including diabetes, cardiac disorders, among others, is further driving the growing focus of key players to introduce new advanced products for diagnosis and patient monitoring, thus supporting segmental growth. This, along with increasing disposable income among the population, is further likely to support the growth of the segment in the market.
On the other hand, the therapeutic devices segment is expected to grow significantly during the forecast period. The growth is due to the distinct benefits offered by these devices, such as ease of use, precise dosing, and the ability to perform multiple functions at a time. To know how our report can help streamline your business, Speak to Analyst By Application AnalysisAdvent of New and Advanced Wearable Devices to Boost Their Use in Sports & Fitness By application, the market is categorized into remote patient monitoring & home healthcare and sports & fitness. The sports & fitness segment dominated the market in 2023. The growth is due to increasing awareness about the certain benefits associated with these wearable medical devices used for sports & fitness activities, such as efficient and easy tracking of heart rate, among others, further resulting in the rising adoption of these devices among the population. This, along with a growing preferential shift toward sports & fitness activities, is resulting in the rising focus of key players to launch advanced products in the market, thereby contributing to the growth of the segment in the market.
On the other hand, the remote patient monitoring & home healthcare segment held the second-largest share in 2023. The growing geriatric population in both developed and emerging countries, coupled with the increasing prevalence of chronic diseases among elderly patients, is anticipated to surge the growth of this segment during the forecast period. By Grade AnalysisConsumer Grade Segment Dominated the Market Owing to Increasing Adoption of These Products Based on grade, the market is divided into consumer grade and clinical grade. The consumer grade segment held the largest market share in 2023. The growth is due to certain factors, such as increasing demand for consumer-grade products such as fitness bands, smartwatches, and smart clothing , among others, resulting in the rising adoption of these products in the market. This, along with an increasing number of players in the wearable medical devices market focusing on product launches, collaborations, and mergers among the key players to strengthen their presence, is likely to support the growth of the segment in the market.
On the other hand, the clinical grade segment is expected to grow with the highest CAGR during the forecast period. The growth is due to a rising focus on regulatory approvals, resulting in a growing number of product launches in the market for clinical-grade wearables. By Distribution Channel AnalysisRetail Pharmacies Segment Led Due to High Demand for Self-Monitoring Diagnostic Devices In terms of distribution channel, the market for wearable medical devices is segmented into retail pharmacies, online distribution, and hypermarkets & others. The retail pharmacies segment held a dominant share of the global market in 2023 and is likely to record a higher CAGR during the forecast period. The segmental dominance is attributed to the increasing demand for self-monitoring, non-invasive monitoring, and diagnostic devices among the population. The strong focus of market players on retail channels in emerging countries is further driving the segment growth. The online distribution segment is expected to register a significant CAGR during the forecast period owing to the increasing shift of customers in metropolitan cities toward e-commerce platforms for purchasing wearable devices. REGIONAL INSIGHTSBy region, the market for wearable medical devices is divided into Europe, North America, the Asia Pacific, and the rest of the world. North America Wearable Medical Devices Market Size, 2023 (USD Billion) To get more information on the regional analysis of this market, Request a Free sample The North America dominated the market and was valued at USD 37.40 billion in 2023. The growth is due to certain factors, including adequate reimbursement policies, higher per capita expenditure on advanced technologies, coupled with the constant focus of market players on the introduction of innovative wearable devices in the U.S. This, along with well-established diagnostic infrastructure and strong adoption of technologically advanced products by end-users in the region is contributing to the market growth. The Asia Pacific is anticipated to record the highest CAGR during the forecast period, especially in developing countries such as India, South Korea, Australia, and China. This is primarily due to the increasing focus of governments and NGOs in China and Japan on reducing patients’ hospital stays. On the other hand, the Europe market for wearable medical devices is also expected to grow during the forecast period. The growth is due to the rising geriatric population, resulting in the growing prevalence of chronic disorders, including diabetes, cardiovascular disorders, among others. The rising prevalence of these disorders, along with the growing demand for wearable devices, is driving the focus of key players on R&D activities to launch advanced products in the market.
The rest of the world accounted for a comparatively lower market share in 2023, as it is a vast and untapped market. However, improvement in healthcare expenditure and increasing adoption of advanced wearable devices in Latin America and the Middle East & Africa are expected to lead this market to future growth prospects. KEY INDUSTRY PLAYERSApple Inc. Held Dominant Market Share Due to Its Robust Portfolio of Smart Products The competitive landscape of the global wearable medical devices market is highly competitive, with the presence of major players such as Apple Inc., SAMSUNG, Fitbit Inc., and Sonova, among others. With its robust portfolio of activity trackers and smartwatches, Apple Inc. accounted for a dominant share of the global market in 2023. In addition, through various collaborations and acquisitions, key players are strengthening their market positions.
Other players operating in this market include Sonova, OMRON Corporation, BD, and NeuroMetrix Inc. These companies are continuously focusing on the development of advanced therapeutic wearables and expanding their distribution channels globally to establish their foothold in emerging countries. LIST OF TOP WEARABLE MEDICAL DEVICES COMPANIES:
KEY INDUSTRY DEVELOPMENTS:
REPORT COVERAGEAn Infographic Representation of Wearable Medical Devices Market  To get information on various segments, share your queries with us The report provides a detailed analysis of the wearable medical devices market and focuses on key aspects, such as leading companies, applications, products, grade, and distribution channels. Moreover, it offers insights into the latest market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years. To gain extensive insights into the market, Request for Customization Report Scope & Segmentation
Frequently Asked QuestionsFortune Business Insights says that the global market value stood at USD 81.15 billion in 2023 and is projected to reach USD 324.73 billion by 2032. In 2023, the North America market value stood at USD 37.40 billion. The market is slated to exhibit a CAGR of 17.2% during the forecast period. By product, the diagnostic & monitoring devices segment dominated the market in 2023. The increasing prevalence of chronic diseases and growing awareness regarding self-monitoring and diagnosis are the key drivers of the market. Apple Inc., Fitbit Inc., and Sonova are the top players in the market. North America held the largest share in the market in 2023. The continuous introduction of novel products and optimization of existing products for diagnosis and self-monitoring devices around the globe are expected to drive the adoption of wearable medical devices.
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PUBLISHER: Value Market Research | PRODUCT CODE: 1547340  Global Wearable Payment Device Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast 2024 to 2032Add to Cart DescriptionTable of contents, list of tables. The global demand for Wearable Payment Device Market is presumed to reach the market size of nearly USD 349.31 Billion by 2032 from USD 32.13 Billion in 2023 with a CAGR of 30.36% under the study period 2024-2032. Wearable payment includes those payment transactions which is carried out through wearable devices integrated with wireless technologies such as NFC and RFID. Wearable payment devices provide customers a contactless and convenient payment mode and ensure hygiene and safety, particularly after the COVID-19 outbreak. Wearables are electronic devices or technology incorporated into items that can even be worn on a body. These wearable devices are utilized for tracking information on a real-time basis. They have motion sensors that take the snapshot of day-to-day activity and sync them with mobile devices or laptop computers. MARKET DYNAMICSThe surging adoption of secure and advanced technology-based digital payment solutions and the increasing focus of wearable technology providers on offering enhanced customer services with mobile applications is the major factor driving the wearable payment device market. The, increase in digitization, followed by the growing adoption of a cashless economy observed in several countries lead to high market demand from several industries. The Growing inclination toward contactless payment methods due to hygiene concerns amid COVID-19 is positively impacting the market growth. Moreover, the increasing adoption of advanced technologies, such as NFC, RFID, and host card emulation, in wearable payment devices is likely to create growth opportunities for key players of the wearable payment device market. The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Wearable Payment Device. The growth and trends of Wearable Payment Device industry provide a holistic approach to this study. MARKET SEGMENTATIONThis section of the Wearable Payment Device market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
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REGIONAL ANALYSISThis section covers the regional outlook, which accentuates current and future demand for the Wearable Payment Device market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions. The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Wearable Payment Device market include Apple Inc., Barclays PLC, Gemalto NV, Google LLC, Mastercard, Nymi, PayPal Holdings Inc., Samsung Electronics, Visa Inc., Wirecard. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments. In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need. TABLE OF CONTENTS2. executive summary, 3. wearable payment device - industry analysis, 4. value chain analysis, 5. global wearable payment device market analysis by type, 6. global wearable payment device market analysis by technology, 7. global wearable payment device market analysis by application, 8. global wearable payment device market analysis by geography, 9. competitive landscape of the wearable payment device companies, 10. company profiles of wearable payment device industry, note - in company profiling, financial details and recent developments are subject to availability or might not be covered in the case of private companies, list of tables.
LIST OF FIGURES
Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC. Jeroen Van Heghe Manager - EMEA +32-2-535-7543  Christine Sirois Manager - Americas +1-860-674-8796 Wearable Injectors Market Wearable Injectors Market by Type (On-body and Off-body), by Technology (Spring, Motor Drive, Expanding Battery and Rotary Pump), by Application (Diabetes, Immuno- Oncology, Cardiovascular, Chronic Pain, and Others), and by End-User (Hospital, Clinic, Homecare, and Others) – Global Opportunity Analysis and Industry Forecast 2024-2030
Wearable Injectors Market OverviewThe global Wearable Injectors Market size was valued at USD 7.17 billion in 2023 and is predicted to reach USD 17.58 billion by 2030 with a CAGR of 13.8% from 2024-2030. Wearable injectors also known as on-body injectors market represents a specialized segment within the medical device industry focused on innovative drug delivery solutions. This segment deals with devices that are designed to meet the growing demand for convenient, patient-centric healthcare options, particularly for conditions requiring frequent medication administration, ultimately contributing to improved patient care and business growth in the pharmaceutical and healthcare sectors. The features of these automated injectors include programmable dosing schedules, automatic needle insertion and retraction mechanisms, and connectivity options for remote monitoring and data collection. Moreover, the wearable injectors market offers substantial opportunities for growth and differentiation through continuous product innovation, enhanced user experience, and strategic industry positioning. Market Dynamics and TrendsThe rising prevalence of chronic diseases such as diabetes and cardiovascular disease (CVD) requires regular medications and monitoring, driving the wearable injectors market demand. These devices allow patients to receive their treatments at home, improving both convenience and adherence to therapy. As per the report published by World Health Organisation, approximately 41 million people worldwide lost their lives each year due to chronic diseases. With such increase in the number of patients suffering from these diseases, the demand for advanced treatment is on rise, driving the growth of the market. Additionally, the rising government spendings across the globe to modernise the healthcare infrastructure drives demand for upgraded technologies and latest equipment including wearable patches and injectors. These injectors improve the treatment efficiency by delivering precise doses of medication directly to patients in a controlled and consistent manner, minimizing the risk of human error. According to a report published by the Ministry of Health and Family Welfare, the budget for medical spending in India is reached approximately USD 10.70 billion in 2023, up from USD 9.49 billion in 2022. Additionally, the Government of Australia’s spending on healthcare sector in 2022 was around USD 71.9 billion. With such increase in government spending, the government aims to modernize the healthcare system to be equipped with the latest technologies. Moreover, the increasing incidence of age-related health issue such as diabetes, heart disease and kidney disease across the globe drives the demand for wearable injectors. These devices enable at-home administration of medications, improving compliance and quality of life for elderly patients who may have difficulty in visiting healthcare facilities regularly. As per the report published by Endocrine Society, in 2022, an estimated of 33% of individuals aged 65 and older across the world were living with diabetes. This rise in elderly population drives the demand for advanced treatment solutions boosting the wearable injectors market expansion. However, the technical issues with the injectors such as low battery life, device malfunctions, and inconsistent drug delivery restrain the growth of the market. On the contrary, the integration of wearable injectors with the smart devices such as mobile phones and cloud monitoring technologies is anticipated to create future opportunity for the market. Smart devices enhance injectors by enabling real-time monitoring and improved patient engagement. The integration of cloud monitoring technologies further supports patient health by allowing remote tracking, real-time data analysis, and timely adjustments to treatment plans. Market Segmentations and Scope of the StudyThe wearable injectors market report is segmented by type, technology, application, end-user and region. On the basis of type, the market is bifurcated into on-body and off-body. On the basis of technology, the market is segmented by spring, motor drive, expanding battery, and rotary pump. On the basis of indications, the market is divided into diabetes, immuno- oncology, cardiovascular, chronic pain, and others. On the basis of end-user, the market is classified by hospital, clinic, homecare and others. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW. Geographical AnalysisAsia-Pacific dominates the wearable injectors market share and is expected to continue its dominance during the forecast period. The rising number of elderly individuals, coupled with an increase in age-related health issue drives the demand for on-body injectors. These devices enable less frequent dosing that reduces the number of needle sticks and makes the treatment process more convenient. As per the latest report published by the Asian Development Bank, the people aged 60 or above is expected to reach 1.3 billion by 2050 in the Asia-Pacific region. With such rise in aging population there is an increase in need for wearable injectors to manage age related health conditions and improve patient outcomes. Moreover, the increase in rate of chronic diseases such as diabetes and CVD requires regular and precise medication further driving the demand for on-body injectors. On-body injectors provide a reliable and convenient method for administering medications, offering solutions for managing chronic illnesses and leading to better health outcomes and an improved quality of life. As per the report published by National Library of Medicine, in June 2023, approximately 330 million individuals in China were affected by CVD including 13 million strokes and 11.39 million coronary heart disease. With such vast number of people suffering from chronic illness, the demand for on-body injectors is on rise. On the other hand, North-America shows a steady rise in the wearable injectors market trends during the forecast period. This is attributed to the government spendings in advancing the healthcare infrastructure for its people. According to a report from the Centers for Medicare & Medicaid Services (CMS), the medical spendings in the U.S reached around USD 4.84 trillion in 2023 from USD 4.50 trillion in 2022. Moreover, the presence of key players such as Tandem Diabetes Care, BD Liberats and Pfizer are adopting various strategies including acquisition that further boosts the wearable injectors market growth. For instance, in March 2023, Tandem Diabetes Care acquired Capillary Biomedical to enhance their product offerings and innovation. This acquisition aims to develop new infusion set solutions that extend wear time, reduce occlusions, and minimize waste, thereby improving user experience. This integration advances the market for wearable injectors, particularly benefiting patients with diabetes by providing more reliable and convenient treatment options. Competitive LandscapeVarious market players operating in the wearable injectors industry are Pfizer Inc., Gerresheimer AG, AbbVie Inc., BD Libertas, West Pharmaceutical Services, Inc., Ypsomed AG, Amgen Inc., Medtronic PLC, Insulet Corporation, Tandem Diabetes Care, Inc., Coherus BioSciences, Eli Lilly and Company, Medtrum Technologies, Enable Injections, CCBio and others. These companies are adopting various strategies such as product launches and acquisition to remain dominant in the market. For instance, February 2024, Coherus BioSciences launched UDENYCA ONBODY an on-body injector designed for patients undergoing chemotherapy. By this launch the company aims to provide a convenient treatment option for patients, especially those living far from care centers. Additionally, in December 2023, Ypsomed launched 10mL YpsoDose patch injector. The product offers patient-centric design with pre-filled and pre-assembled options and delivers pharmaceutical companies and patients a reliable, user-friendly drug delivery solution. Moreover, in February 2023, Insulet acquired Automated Glucose Control LLC to enhance its Omnipod 5 wearable injector system. With this acquisition the company aims to develop advanced solutions for people with diabetes in the future. Key BenefitsThe report provides quantitative analysis and estimations of the wearable injectors market from 2024 to 2030, which assists in identifying the prevailing industry opportunities. The study comprises a deep-dive analysis of the current and future wearable injectors market trends to depict the prevalent investment pockets in the industry. Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report. Competitive analysis of the key players, along with their market share is provided in the report. SWOT analysis and Porters Five Forces model is elaborated in the study. Value chain analysis in the market study provides a clear picture of roles of stakeholders. Wearable Injectors Market Key SegmentsOff-body By TechnologyMotor Drive Expanding Battery Rotary Pump By ApplicationImmuno- Oncology Cardiovascular Chronic Pain By End-UserOthers North America France Italy Spain Denmark Netherlands Finland Sweden Norway Rest of Europe Asia-Pacific South Korea Rest of Asia-Pacific Latin America Middle East REPORT SCOPE AND SEGMENTATION
Key PlayersPfizer Inc. Gerresheimer AG AbbVie Inc. BD Libertas West Pharmaceutical Services, Inc. Medtronic PLC Insulet Corporation Tandem Diabetes Care, Inc. Coherus BioSciences Eli Lilly and Company Medtrum Technologies Enable Injections  Download Free SamplePlease Enter Full Name Please Enter Valid Email ID Please enter Country Code and Phone No Please enter message Frequently Asked QuestionsWhat is the current market size of wearable injectors industry in 2023, which are the major companies in the wearable injectors industry, which region is dominating the wearable injectors industry, what is the projected market size by 2030, what are the future opportunities for the wearable injectors industry.  Our Clients Related Report Related BlogsTechnological advancements shaping the minimally invasive surgical systems market. Introduction The landscape of medical interventions is unde...  Revolutionizing Kidney Health: Latest Trends and Advancements in Dialysis TechnologyIntroduction Dialysis, a crucial medical procedure, is carr...  Transforming Healthcare With Patient Monitoring InnovationsIntroduction Patient monitoring refers to the continuous or periodic observatio...  Download Sample Your Response Will be sentPlease provide your company email address for a faster response Type Of License
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Wearable Technology Market Share & Trends Report, 2030
The U.S. Wearable Technology Market size was valued at USD 19.92 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 12.8% from 2024 to 2030. The U.S. accounted for 27.7% of the global wearable technology market. Increasing demand for wearable technologies has contributed to the rapid growth of smart device users ...
Wearable Technology Market Size & Share Analysis
Industry & Market reports. ... Full-service market research and analytics. ... the wearable market includes several devices, such as smartwatches, fitness trackers, headphones, and extended ...
Report Overview. The global wearable computing market size was valued at USD 59.34 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 20.2% from 2023 to 2030.The factors driving the sales of wearable computing products are technology breakthroughs in wearable devices, rising consumer acceptance of wearable technology, such as fitness bands and smartwatches, and ...
Wearable Devices Market Size, Share Analysis & Outlook ...
The global wearable technology market reached a volume of about 289.89 million shipments in 2023. The industry is further expected to grow at a CAGR of about 17% in the forecast period of 2024-2032 to reach a value of around 1,190.24 million shipments by 2032. Read more about this report - REQUEST FREE SAMPLE COPY IN PDF.
The global wearable technology market size is projected to reach USD 265.4 billion by 2026, growing at a CAGR of 18.0% during the forecast period. It was observed that the growth rate was 41.51% from 2021 to 2022. Consumer Electronics is expected to grow at a highest CAGR of 39.12%. Increasing growth prospects of next-generation displays in ...
The global wearable technology market size is expected to reach USD 186.14 billion by 2030, expanding at a CAGR of 14.6% from 2023 to 2030. Due to its numerous functions in the healthcare, consumer electronics, and industrial sector wearable technology is becoming more and more popular among consumers.
The global Wearable Technology Market size was valued at USD 60.85 billion in 2022. It is estimated to reach USD 190.21 billion by 2031, growing at a CAGR of 13.5% during the forecast period (2023-2031). The factors driving the wearable technology market growth during the projected period include increasing growth prospects of next-generation ...
Wearable Technology Market size is estimated to grow by USD $87.3 billion from 2024 to 2028 at a CAGR of 17% with the wrist-wear having largest market share. Popularity of wearable devices as a payment method will be a key driver fueling the wearable tech ... The market research report provides comprehensive data (region wise segment analysis ...
Global shipments of wearable devices reached 49.6 million units during the first quarter of 2019 (1Q19), up 55.2% from the previous year according to data from the International Data Corporation (IDC) Worldwide Quarterly Wearable Device Tracker. Shipments of wristwear - including watches and wristbands - grew 31.6% year over year, and continue to dominate the wearables landscape ...
The global wearable technology market is anticipated to be worth USD 71.68 billion by 2029 from USD 33.25 billion in 2024, growing at a CAGR of 16.61% from 2024 to 2029. Current Scenario of the Market. Currently, the wearable technology market is witnessing the introduction of several innovative products disrupting the industry dynamics.
The global Wearable Technology market size reached USD 61.30 Billion in 2022 and is expected to reach USD 236.38 Billion in 2032 registering a CAGR of 14.4%. Wearable Technology market growth is primarily driven owing to rising demand for wearable devices for tracking and monitoring health vitals, rapid advancements made in sensors
Wearable Technology Market Size, Share, Industry ...
Issues associated with interoperate ability are another major concern for market growth. Some smart wearable devices are compatible with other devices and platforms. ... DETAILED SEGMENTATION OF THE GLOBAL SMART WEARABLES MARKET INCLUDED IN THIS REPORT This research report on the global smart wearables market has been segmented and sub ...
Data Bridge Market Research analyses the wearable electronic devices market will exhibit a CAGR of 15.60% for the forecast period of 2022-2029. Wearable electronics are smart devices that individuals can wear over their bodies to improve their day-to-day activities. They are integrated computing devices that allow users to access wireless ...
Wearable Technology Market Size was valued at USD 53.1 Billion in 2023. The Wearable Technology market industry is projected to grow from USD 69.6672 Billion in 2024 to USD 466.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 26.83% during the forecast period (2024-2032). The rising popularity of the Internet of Things (IoT ...
Segmentation. Request Free Sample. The global wearable technology market is estimated to be valued at US$ 128.07 Billion in 2023 and is expected to exhibit a CAGR of 12.0% over the forecast period (2023-2030). Wearable technology or also referred to as wearable are smart electronic devices worn close to or on the surface of skin wherein they ...
The global wearable technology market size is expected to reach USD 186.14 billion by 2030, growing at a CAGR of 14.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. Due to its numerous functions in the healthcare, consumer electronics, and industrial sector wearable technology is becoming more and more popular among consumers.
The wearable devices market is projected to grow at a CAGR of 21.63% to reach US$80.438 billion by 2025, from US$24.486 billion in 2019. Wearable devices keep a track of real-time information on the activities of its user and can be worn on the body with ease and comfort. ... This product is a market research report. This is a single user ...
Industry Outlook. Wearable devices recorded sales of 130.8 million units in 2017 and are projected to witness double-digit growth of 16.5% from 2018 to 2026. Wearable devices can be defined as clothing or accessories with advanced technologies that include products such as smartwatches, fitness and activity trackers, smart eyewear, smart ...
The global wearable medical devices market size was valued at USD 81.15 billion in 2023. The market is projected to grow from USD 91.21 billion in 2024 to USD 324.73 billion by 2032, exhibiting a CAGR of 17.2% during the forecast period. Wearables in healthcare encompass medical devices that customers can wear, such as activity trackers and ...
Global Wearable Payment Device Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast 2024 to 2032 - The global demand for Wearable Payment Device Market is presumed to reach the market size of nearly USD 349.31 Billion by 2032 from USD 32.13 Billion in 2023 with a CAGR of 30.36% under the study period 2024-2032.
Wearable Injectors Market Overview. The global Wearable Injectors Market size was valued at USD 7.17 billion in 2023 and is predicted to reach USD 17.58 billion by 2030 with a CAGR of 13.8% from 2024-2030. Wearable injectors also known as on-body injectors market represents a specialized segment within the medical device industry focused on innovative drug delivery solutions.
Wearable Medical Devices Market Trends . The global wearable medical devices market size was estimated at USD 33.85 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 25.66% from 2024 to 2030. The anticipated growth in industries like remote patient monitoring and home healthcare will impact the market, along with an increased focus on fitness and a health ...
Haghi M, Thurow K, Stoll R (2017) Wearable Devices in Medical Internet of Things: Scientific Research and Commercially Available Devices. Healthcare Informatics Research 23(1). Korean Society of Medical Informatics: 4-15.
According to the IDC report, there was a 34% growth in India's wearable market in 2023, with 134.2 million units recorded and smartwatch shipments increasing by 74% year-on-year to reach 53.2 million units. Mobile phone integration, wireless connection, and long battery life are among the key features that users seek in a wearable device.